Monsanto profit dashedThis article was originally published in The Public Ledger
MONSANTO'S profit fell by 19% to $887m in the second quarter as prices continued to stagnate for its Roundup herbicides. Revenue fell to $3.89bn from $4.04bn. The firm said income will be hurt in the next two years as the company will be forced to cut seed prices. Hugh Grant, chief executive at Monsanto, admitted for the first time that the firm is unlikely to meet its goal of doubling 2007 gross profit by 2012.