23.10.98

DeKalb cuts bt corn seed prices in 1999

Sender: nlpwessex@bigfoot.com

That Dekalb is reducing its price of GM Bt corn (see end of bulletin) whilst
holding its seed prices generally may indicate Bt performance problems. It
is already known that Bt varieties are hitting major pest resistance
problems, requiring additional spraying - so effectively farmers are paying
twice for pest control - or massive refuge areas of non-gm varieties.
(Natural Law Party Wessex)


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Friday October 23, 12:05 pm Eastern Time
DeKalb corn seed prices to be flat in 1999
DEKALB, Ill., Oct 23 (Reuters) - Seed maker DeKalb Genetics Corp. said
Friday that prices for its corn product line will be essentially flat in
1999.

DeKalb, which said earlier this week that aggressive promotions cut its
fiscal 1998 profits, also announced an aggressive early cash discount
program and enhanced financing deals. DeKalb's pricing moves come about four
weeks after leading U.S. seed maker Pioneer Hi-Bred International Inc.
(NYSE:PHB - news) said it would keep corn and soybean prices flat in 1999
and lower some prices.

DeKalb, which agreed earlier this year to be acquired by life sciences firm
Monsanto Co. (NYSE:MTC - news), said the pricing moves are in response to
low commodity prices which have slashed U.S. farmers' income.

``With commodity prices as low as they are, we wanted to support our
customers by holding the line on seed prices,'' Richard Ryan, president,
said in a statement. ``We will also offer several other financial programs
to help farmers with their farm operation for 1999.''

DeKalb said technology premiums on its Bt corn, which is genetically
modified to resist the crop-eating European corn borer, were reduced by $6 a
unit, and those savings will be passed through to customers.


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