May 13, 2009 / 11:48 AM / 11 years ago

UPDATE 2-Monsanto sees U.S. seeds business doubling

* Monsanto sees U.S. seeds business doubling by 2012

* Sees international growth of 85 pct by 2012

* Shares down 1.4 percent in premarket trade (Adds details, previous NEW YORK)

KANSAS CITY, May 13 (Reuters) - Monsanto Co MON.N said on Wednesday that it expects its U.S. gross profit from sales of seeds and traits to double by 2012 from the 2008 level, while its international businesses should grow by 85 percent.

The world’s biggest seed company said it will launch a “high impact technology” product every one to two years, with the goal that each project will deliver more than $300 million in “gross revenue opportunities” by 2020 in the country where it is launched.

Among the company’s top targeted product releases are its Genuity Roundup Ready 2 Yield soybeans and Genuity SmartStax corn, as well as a drought-tolerant corn and corn that uses nitrogen more efficiently, and an insect-protected soybean for Brazilian farmers.

Monsanto’s sales of genetically modified trait developments in corn, soybeans and other crops have grown rapidly in the United States, and the company said Wednesday it expects its U.S. seeds and traits gross profit to double by 2012 from a 2008 baseline.

But the company is also looking for international growth and is projecting gains of nearly 85 percent from its international seeds and traits forecasted for the same time frame.

Monsanto has increasingly been focusing its long-term growth efforts on developing innovative seeds as its revenues from chemical herbicides peak.

The company’s shares were down 1.4 percent at $88.75 in light premarket trade. (Reporting by Carey Gillam)

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