DES MOINES, Iowa, July 7 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) business Pioneer Hi-Bred today updated the introduction and conversion timeline for Optimum® GAT® corn, the company’s proprietary herbicide tolerance trait.
Specifically, regulatory approvals in certain U.S. export markets are taking longer than originally expected. The changed regulatory approval schedule will limit the introductory volumes of Pioneer® brand corn seed with the Optimum® GAT® trait to controlled releases in 2010 and 2011.
Pioneer currently anticipates Japanese import approval for Optimum® GAT® corn late in 2010. Approvals in Taiwan and Korea – also large importers of U.S. corn – will follow Japanese approvals. U.S. Department of Agriculture (USDA) regulatory approval for Optimum GAT corn is currently on track for later this year.
“Adjustments to the regulatory approval schedule are common," said Paul E. Schickler, DuPont vice president and general manager and Pioneer Hi-Bred president. “While we are disappointed in this administratively-driven schedule change, we are confident in our long term prospects.”
“The Optimum® GAT® trait in corn continues to demonstrate excellent herbicide tolerance and product safety,” Schickler said. “We are positioned to deliver industry-leading products, proprietary technologies and new choices to growers to help maximize their productivity well into the future.”
While DuPont currently believes that it is unlikely to be largely converted by 2015, the company continues to make important progress with its Optimum® GAT® corn product line. DuPont will provide an update on its progress during its annual pipeline review. The company reaffirmed its outlook for greater than 15 percent compounded annual earnings growth rate of the DuPont Agriculture & Nutrition business segment through 2013.
Pioneer Hi-Bred, a DuPont business, is the world's leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics in nearly 70 countries.
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 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.