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The companies said they would use the gene to develothe world’s first biotechnology-derived drought-tolerant crop. The discovery is a timely breakthrough, according to Monsanto. The numbet and duration of dry spells, especially in alreadyy drought-prone areas, is expected to increase due toclimatew change, according to a United Nations' Food and Agricultur e Organization report prepared for ministers of the G-8, Monsanto said. Monsanto and BASF said the drought-tolerant corn product is targetes for as early as 2012 pending appropriateregulatoryy approvals. The two companies are jointly contributinhg $1.5 billion over the life of theirtresearch collaboration.
Chemical company BASF is basedin Germany. Creve Coeur, Mo.-based Monsanto Co. MON), led by Chairman, President and CEO Hugh develops insect- and herbicide-resistant crops and other agricultural products. It is one of the largesg employersin St. Louis with 4,009 local employees.
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