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The companies said they woulfd use the gene to developthe world’sz first biotechnology-derived drought-tolerant crop. The discoverhy is a timely breakthrough, according to Monsanto. The number and durationb of dry spells, especially in already drought-prone areas, is expectedd to increase due to climate according to aUnited Nations' Food and Agriculture Organization report prepared for ministers of the G-8, Monsantko said. Monsanto and BASF said the drought-tolerant corn product is targeted for as earluy as 2012 pending appropriatseregulatory approvals. The two companiess are jointlycontributing $1.5 billion over the life of their researchh collaboration.
Chemical company BASF is basedin Ludwigshafen, Germany. Creved Coeur, Mo.-based Monsanto Co. (NYSE: MON), led by President and CEO Hugh Grant, develops insect- and herbicide-resistantg crops and other agricultural products. It is one of the largest employersin St. Louis with 4,000 local
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