BASF spent €944 million on R&D in 2022; to invest further on agri tech innovation

BASF spent €944 million on R&D in 2022; to invest further on agri tech innovation

BASF advances innovation pipeline to accelerate agriculture's transformation

  • By ICN Bureau | March 16, 2023

BASF presents the latest advancements in its agricultural innovation pipeline of crop protection, seeds and traits, and digital solutions.

The focus is to provide much-needed solutions for farmers to overcome local and crop system specific pest pressures, climate challenges, changing regulatory requirements and rising consumer expectations.

Executing on its strategy in agriculture announced in 2019, the company is directing its innovations to improve outcomes for major regional crops, such as soy in the Americas, fruits and vegetables in Europe and rice in Asia Pacific. The value of the innovation pipeline remains strong, with an estimated peak sales potential of more than €7.5 billion fueled by products launched within the next ten years.

“Our goal is to become an ever more integrated provider of agricultural solutions and to expand the options we can offer to farmers. This is why we continue to invest substantially across our broad pipeline of agricultural technologies, with €944 million spent on Research & Development in 2022,” said Dr. Livio Tedeschi, President of BASF Agricultural Solutions.

“Farmers can continue to rely on us to innovate and deliver new active ingredients, innovative formulations, and traits to get more value from their production, both economically and environmentally.”

“Our pipeline demonstrates that we are not only leveraging our deep expertise in chemistry and environmental sciences, but also matching it with leading biotechnology and digitalization approaches for next generation solutions,” added Dr. Peter Eckes, President R&D and Regulatory of BASF Agricultural Solutions. “BASF’s industry-leading weed-control pipeline is a premier example of how our multidisciplinary approach yields solutions that balance the needs of farmers, society and the environment.”

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