BAYZF - Bayer to continue supplying Russia with agricultural inputs

Bayer ( OTCPK:BAYRY ) said on Monday it will continue supplying Russia with essential agricultural inputs , reversing its stand from earlier this year that supplies for 2023 would depend upon Russia stopping its attacks on Ukraine.

The company said its decision is aimed at "helping prevent what could become an unprecedented food crisis" and that access to Russian food is essential.

Separately, Bayer ( OTCPK:BAYRY ) said it is launching ForGround, a digital platform to help U.S. farmers adopt environmentally friendly practices and connect them with companies seeking more sustainable food, feed and biofuel ingredients.

Bayer ( OTCPK:BAYRY ) said the platform will tap weather, soil, seed and farming practice data to make recommendations about how growers can boost soil health, cut emissions and reduce water use and chemical applications, then help the results to become certified by a third-party verifier so farmers potentially can sell their grain for a premium.

Regarding Russia, Bayer's ( OTCPK:BAYRY ) policy change follows the deal signed by Russia, Ukraine, the United Nations and Turkey to allow grain exports through Black Sea ports previously blocked by Russia's Black Sea fleet .

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