DES MOINES, Iowa, July 27, 2010 - DuPont further increased its North American market share in both corn and soybean seed products this growing season, resulting in strong sales and earnings growth.
DuPont's Pioneer Hi-Bred business increased its corn market share in North America by two points and its soybean market share by four points - gains split equally between the Pioneer® brand and other brands distributed through its PROaccessSM business strategy. For the first half of the year, Pioneer grew global seed sales by 14 percent on 8 percent volume gains delivering against its long-term growth objectives.
"This continued growth is a strong testament for our 'Right Product Right Acre' strategy," said Paul E. Schickler, president - Pioneer Hi-Bred. "Our focus on addressing individual grower needs is paying off."
With its "Right Product Right Acre" strategy, Pioneer works with customers to match the best seed with their specific needs through a wide selection of innovative product choices and differentiated service before and after the sale. Its success has been building and is the result of a multiyear investment not only in research and development but also in the Pioneer sales force who can serve farmers locally.
"Based on what we are seeing in our field trials and our conversations with farmers this summer, we expect another strong year in 2011," said Schickler.
Pioneer plans to launch a new class of corn hybrids with strong agronomic packages and further expand choices within the Y Series soybean line-up for next year.
The expanded line-up for Pioneer in 2011 includes Optimum® AcreMaxTM 1 products, the industry's first in-the-bag refuge solution that offers growers increased convenience, reduced refuge and an additional tool for maximizing field-by-field productivity. This innovative solution for insect refuge management recently was granted registration by the U.S. Environmental Protection Agency and eliminates the need for separate rootworm refuge while increasing the ease and flexibility of planting the corn borer refuge.
Pioneer Hi-Bred, a DuPont business headquartered in Des Moines, Iowa, is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering SuccessTM.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.