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Biotech Industry And Monsanto Essay

1135 words - 5 pages

Monsanto is the leader in the biotech industry with locations spanning around the globe. Monsanto came from small beginnings in 1901 as a chemical company when it first was founded, to rapidly expanding and producing chemicals and chemical based products that have become a household name. Monsanto has managed to grab the market share of genetically modified seeds and their most profitable weed killer RoundUp in the past 30 years. This paper will examine the effect of Monsanto’s market influence from an economic standpoint, compare and contrast the competitors, as well as examine the global effect of Monsanto’s control of the market in specialized fields with their exclusive genetically ...view middle of the document...

We also produce leading in-the-seed trait technologies for farmers that are aimed at protecting their yield, supporting their on-farm efficiency and reducing their on-farm costs.” (Improving Agriculture, Monsanto) As previously noted Monsanto sells the worlds best-selling herbicide, RoundUp. RoundUp works with the patented genetically modified seeds that Monsanto sells, it is estimated that Monsanto sells about 90% of the worlds genetically modified seeds planted in 2013 alone. The seeds are engineered to resist the chemicals in RoundUp, causing the weeds and other unwanted growth in the crops to die, leaving the harvest unharmed.

Monsanto is structured into two segments: Seeds and Traits, Crop Protection. “The Seeds and Traits segment consists of the company's global seeds and traits business, and genetic technology platforms - including biotechnology, breeding and genomics. It is designed to interchangeably work with the Crop Protection segment that consists of “agricultural and industrial, turf and ornamental herbicide products.”(Newsroom, Monsanto)
Monsanto engineered and released “RoundUp ready”(RR) crops. The first seed was introduced in 1998; soybeans, with demand being high for the RR soybean crops, Monsanto decided to release RR corn crops. This gave farmers the ability to buy the RR seed from Monsanto and use their other product RoundUp to control the weeds in their crops, without the fear of the crops being destroyed by the glyphosate, this is because the seeds have been genetically modified and engineered to resist the Roundup herbicide.

Monsanto controls the market through their own supply and demand chain by withholding product in inventories, since their product is seasonal this buffers against uncertain price changes that would affect the supply and demand chain. Monsanto has worked closely with numerous agents and distributors and retailors in the mid 1990’s to place orders early, by doing so Monsanto gave an incentive of generous prices in advance of the selling season. Monsanto cogitated to the buyers that the in-season prices would be much higher so you would benefit from buying early. Monsanto’s theorem was that since their product was seasonal it would be in their best interest to peruse a production smoothing strategy that would end with a pre-build inventory. Monsanto however did not have the supply on hand and used the pre-sale to induce a downstream effect of their supply chain to hold the anticipatory stock. “From the...

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