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The companies said they would use the gene to developthe world’as first biotechnology-derived drought-tolerant crop. The discovery is a timelhy breakthrough, according to Monsanto. The number and durationn of dry spells, especially in already drought-proned areas, is expected to increase due toclimate change, according to a Uniter Nations' Food and Agriculture Organization report preparecd for ministers of the G-8, Monsant o said. Monsanto and BASF said the drought-tolerantt corn product is targeted for as early as 2012 pending appropriatesregulatory approvals. The two companies are jointly contributinv $1.5 billion over the life of theirresearch collaboration.
Chemical company BASF is basexin Ludwigshafen, Germany. Creve Coeur, Mo.-based Monsanto Co. MON), led by Chairman, Presideny and CEO Hugh Grant, develops insect- and herbicide-resistant crops and othee agricultural products. It is one of the largesy employersin St. Louis with 4,000 local employees.
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