Washington, DC
August 19, 2008
Syngenta Seeds, Inc.
and John Deere Risk Protection, Inc. announced today that the
U.S. Department of Agriculture’s Federal Crop Insurance
Corporation (FCIC) has approved Syngenta Agrisure® and other
approved biotech corn seed brands for a broadened crop insurance
endorsement that provides insurance premium discounts to
farmers. This extends the program for discounts of certain
federally-reinsured crop insurance policies and simplified terms
to growers who use multiple biotech corn suppliers.
John Deere Risk Protection, which insures growers against yield
risks, and Syngenta, jointly submitted the insurance proposal to
the FCIC earlier this year. The crop insurance premium discount
for growers of Agrisure seeds will initially be offered in Iowa,
Illinois, Indiana, Minnesota, Nebraska, South Dakota and
Wisconsin. Additional program details will be announced this
fall.
“The FCIC’s approval of Agrisure and other traited corn seeds
acknowledges reduced risk for growers,” said Steve Ligon, Head,
Syngenta Seeds Corn and Soybean Commercial Operations. “We
worked with John Deere Risk Protection to create a better
opportunity for growers to access crop insurance discounts. A
unified endorsement aligns with growers’ preferences for choice
and the crop insurance industry’s need for consistent policies
across seed brands.”
Mark Raymie, Director of Business Operations, John Deere Risk
Protection, a managing general agent, said that approval of
additional biotech seeds for a premium discount balances the
interests of seed suppliers, insurers, agents, the Risk
Management Agency and growers to create fair competition and
broad choice. “The approval of this endorsement by the FCIC
should spark additional discussions regarding how technology can
impact risk reduction regardless of the technology provider,”
said Raymie. “We look forward to conversations that take into
consideration the value of choice for growers, importance of
market competition, and implementation considerations faced by
the crop insurance industry.”
Ron Litterer, President of the National Corn Growers
Association, said the FCIC decision is a win for growers and the
industry overall. “We applaud the work of Syngenta, John Deere
Risk Protection and the FCIC and RMA in extending access to the
Risk Management Biotechnology Endorsement to growers across a
wider portion of the Corn Belt.”
Syngenta is a world-leading agribusiness committed to
sustainable agriculture through innovative research and
technology. The company is a leader in crop protection, and
ranks third in the high-value commercial seeds market. Sales in
2007 were approximately $9.2 billion. Syngenta employs over
21,000 people in more than 90 countries. Syngenta is listed on
the Swiss stock exchange (SYNN) and in New York (SYT). Further
information is available at
www.syngenta.com.
John Deere Risk Protection, Inc. is a subsidiary of John Deere
(Deere & Company-NYSE:DE), the world’s leading provider of
advanced products and services for agriculture and forestry and
a major provider of advanced products and services for
construction, lawn and turf care, landscaping and irrigation.
John Deere also provides financial services worldwide and
manufactures and markets engines used in heavy equipment. Since
it was founded in 1837, the company has extended its heritage of
integrity, quality, commitment and innovation around the globe.
Agrisure® is a registered trademark of a Syngenta Group Company.
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