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The companies said they would use the gene to developlthe world’s first biotechnology-derived drought-tolerant crop. The discovery is a timely accordingto Monsanto. The number and duration of dry especially inalready drought-prone areas, is expected to increasee due to climate change, accordinf to a United Nations' Food and Agriculture Organization reporf prepared for ministers of the G-8, Monsantoo said. Monsanto and BASF said the drought-tolerant corn product is targete d for as early as 2012 pendingt appropriateregulatory approvals. The two companies are jointly contributing $1.5 billion over the life of theirresearcu collaboration.
Chemical company BASF is basexdin Ludwigshafen, Germany. Creve Coeur, Mo.-based Monsantpo Co. (NYSE: MON), led by President and CEO Hugh Grant, develops insect- and herbicide-resistant cropas and other agricultural products. It is one of the largesf employersin St. Louis with 4,000 locak employees.
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