May 31st, 2013 by James Ayre
Monsanto Company recently reported that it was expecting significant earnings growth for fiscal year 2013 — greater than 20%. And also that said growth will likely continue through into fiscal year 2014 — with the continued growth then projected to be somewhere around 10-20%.
That’s significant growth, especially when you consider how massive the corporation already is. The notorious multinational biotechnology company — famous for its GMOs (genetically modified organisms), GE seeds (genetically engineered), and toxic chemicals (DDT, Agent Orange, PCBs, etc) — has been continuing to do quite well, regardless of the growing public mistrust of the company. Such a reality is of course not a surprise, and just goes to show the large disconnect between the infrastructure that many people currently live in/depend upon and their ability to influence it.
Monsanto attributes much of its recent growth to the expansion of its global corn business into Latin America.
Here’s some doublespeak from the company:
“We’re in a growth mode, and with the combination of momentum in our core businesses and new layers of growth coming online from an increasingly global portfolio, we have the strategic drivers in place to continue our growth trajectory next year and beyond,” stated Hugh Grant, Monsanto’s chairman and chief executive.. “Our opportunity is driving yield and productivity and, even against the yearly variability in agriculture, the long-term need for greater agricultural productivity and the strong fundamentals in our business create a compelling runway for our company.”
In related news, a large worldwide protest against the company took place on May 25th, and drew over 2 million participants. A pretty good showing. 🙂
Also, a “Monsanto-created, genetically modified strain of wheat that was never approved by the United States Department of Agriculture” was recently discovered growing on at least one farm in the US. As a result, several major importers of US wheat have suspended some of their imports. “Japanese authorities have already opted to cancel part of a tender offer to buy US western white wheat and have suspended imports of both that variety and feed wheat,” as Reuters reports.
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