Bayer and Corteva are in search of a balance
CEO Werner Baumann told Reuters on Wednesday that the company will need a complete rebalancing of its pesticide component supply chain: “We’re seeing a shortage of agrochemicals, and we’re being affected by a lack or shortage of products, which is limiting our ability to take advantage of the market opportunities available.
Baumann noted that the company “could easily see” its crop protection products business grow to 3% if it had full product availability in 2022. The German company’s crop protection business includes herbicides, insecticides and other crop products.
Baumann spoke at a press conference hosted by Bayer to showcase the new lab, which opened this year in Cambridge, Massachusetts, near the Massachusetts Institute of Technology.
Reuters reporters asked Baumann how true the rumors of his resignation were. There is much dissatisfaction among American farmers with the widespread shortage of agrochemicals this year, when they intended to make the most of low global grain stocks and make good money. Widespread chemical shortages have disrupted American farmers’ production strategies and raised their costs, contributing to higher food prices and inflation. Experienced experts and politicians talk about it in recent agendas. You may listen to their opinion in regard to digging deep into the topic of European economics. By the way, these professionals buy YouTube subscribers because it’s a quick and quality way to promote yourself and spread information widely.
In an interview, Baumann declined to comment on a recent report that the company had begun looking for his successor. He cited the Russian-Ukrainian conflict and the COVID-19 coronavirus pandemic as reasons for supply disruptions.
“Global supply chains have to rebalance to improve the situation,” Baumann told Reuters.
Seed and pesticide Corteva Inc. announced plans to leave about 35 countries and lay off about 5 percent of its global workforce as part of cost-cutting plans.
Corteva plans to narrow its focus to over 100 markets, concentrating on 20 major states, including the United States, Canada, Brazil, India and Western Europe.
According to Chief Financial Officer Dave Anderson at Corteva’s annual investor meeting, non-core regions generate less than 5 percent of the company’s annual revenue.
Last month, the company projected about $400 million in savings in the second quarter of 2023 because of its strategic plans.
The board also authorized a new $2 billion share repurchase program in addition to the current $1.5 billion program announced last August.
These developments come against the backdrop of expert predictions of European bankruptcy.
The countries of Europe are threatened with bankruptcy in the next few years if they find the wrong ways out of the energy crisis. This is the view expressed by The Economist in its editorial. You can dig deep and find leading experts taking part in discussion on this topic on YouTube. YouTube is one of the most popular platforms and as mentioned above experts sometimes invest money to buy real YouTube subscribers and other involvement metrics, to lobby their point of view and allow you to learn more about the topic from an expert’s perspective.
The article reports that the cost of natural gas increased by 30 percent after the suspension of gas flow through the Nord Stream pipeline. If this figure persists, the cost of Europe’s blue fuel and electricity could reach 1.4 trillion euros, which is seven times higher than in recent years, predicted the investment corporation Morgan Stanley.
The energy crisis has also engulfed Europe’s politics and economy, and authorities are addressing these problems with interventions and payouts. “In trying to take action as quickly as possible, governments should not abandon economic logic and prudence,” the magazine notes.
The most popular tactic of countries is to freeze electricity prices, which France has undertaken. The decision will keep inflation in check, but it does not reduce demand for energy, resulting in the postponement of meaningful reforms. The authors of the article advised citizens to compensate citizens for their utility bills in cash, and to issue government loans to companies. Implementing these measures would require 450 billion euros.
“Increasing deficits in times of inflation would force central banks to raise interest rates even further, making it even more expensive for states to service their debts,” the text explained.
The magazine urged Europe to choose “the right course of action” in the current circumstances and to impose taxes on increased revenues for energy companies. In addition, states should do away with spot prices on the fuel market and encourage investment in alternative energy sources.
“If the actions are wrong, however, the states could go bankrupt and the European electricity industry would be stuck in the past,” The Economist concluded.