USDA Approves Syngenta and John Deere for Broadened Biotechnology Endorsement for Corn Crop Insurance

2008-08-19 16:04:00

    WASHINGTON, Aug. 19 /EMWNews/ -- 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(R) 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 (NYSE: SYT). Further

information is available at

    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(R) is a registered trademark of a Syngenta Group Company.

    Cautionary Statement Regarding Forward-Looking Statements

    This document contains forward-looking statements, which can be

identified by terminology such as 'expect', 'would', 'will', 'potential',

'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar

expressions. Such statements may be subject to risks and uncertainties that

could cause the actual results to differ materially from these statements.

We refer you to Syngenta's publicly available filings with the U.S.

Securities and Exchange Commission for information about these and other

risks and uncertainties. Syngenta assumes no obligation to update

forward-looking statements to reflect actual results, changed assumptions

or other factors. This document does not constitute, or form part of, any

offer or invitation to sell or issue, or any solicitation of any offer, to

purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta

ADSs, nor shall it form the basis of, or be relied on in connection with,

any contract therefor.

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website now offers Organic Lead Generation & Traffic Solutions