Monsanto Co. plans to invest potentially more than US $1 billion in a dicamba herbicide production plant.
Monsanto officials expect to spend the money over the next three to five years expanding a plant in Luling, Louisiana, to produce dicamba, which is used in tandem with glyphosate in the company’s “Roundup Ready Xtend” crop system.
Resistance to herbicides has become a significant problem and the agrichemical industry is racing to introduce new options.
“The reality is the industry is going to have to continually evolve just like plant life evolves,” said Edward Jones analyst Matt Arnold.
