The crop chemicals sector could suffer another blow as farmers move to adopt new technology designed to maximize harvests and minimize the use of inputs such as pesticides and fertilizers, according to an article from Reuters. Digital farming is based on algorithms using data from farmers’ own fields to direct activities like tilling, sowing, spraying and harvesting crops.
The emergence of digital farming and an emphasis on reducing the use of chemicals challenges an industry already beset by faltering worldwide agricultural markets, according to the article. Companies such as Bayer and DuPont are reportedly investing in data science and services to generate revenues that could offset a future drop in chemical volumes. According to Reuters, Monsanto's 2013 purchase of the Climate Corporation, which analyzes weather conditions, is digital farming’s largest deal to date at $1 billion.
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