AgTech Weekly: Bayer's Strategic Foray into the Strawberry Market; The European Glyphosate Conundrum & More
Discover the weekly digest from the AgTech industry.
Good morning readers, Bayer, a global leader in life sciences, is set to acquire strawberry assets from the UK-based National Institute of Agricultural Botany (NIAB), marking a significant expansion in its Fruits and Vegetables business. This move aims to meet the rising consumer and retail demand for high-quality, year-round strawberries. Meanwhile, the European Commission's recommendation for a 10-year extension on the use of Glyphosate has sparked debate among EU member states, with concerns over its potential health and environmental risks. In the U.S., the wheat industry is experiencing a rebound in production, positively impacting the profitability of grain elevators and carriers, according to CoBank's latest report.
Astanor Ventures has closed its second fund at €360 million in the venture capital sphere, focusing on early-stage companies that aim to create sustainable agrifood and bioeconomy systems. This comes despite a general decrease in AgTech investments. On a global scale, a "Farmer Voice" survey reveals that 71% of farmers report significant impacts from climate change, leading to an average income loss of 15.7% over the past two years. However, over 80% of farmers are taking steps to mitigate these effects, indicating a proactive approach to the dual challenges of climate change and economic pressures.
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