CEO & Director, Corteva Inc
Corteva Agriscience CEO on the outlook for the agriculture industry in 2023
Cramer spoke with Corteva Agriscience CEO Chuck Magro on Monday. Sign up and learn more about the CNBC Investing Club with Jim Cramer https://cnb.cx/3Ei22n4
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About Charles (chem)
In a February 2023 interview on CNBC's "Mad Money," Corteva Agriscience CEO Chuck Magro described the outlook for the agriculture industry as "very healthy and quite constructive" for the year. He stated that the world needs to produce more food, citing the Russia-Ukraine situation as having "put a really big dent into the food supply" and stressed a "very fragile food system." Magro characterized 2022 as "a very good year" with strong demand, and said he expected 2023 to be "more of the same," predicting a "very, very strong year for seed, for crop protection products" as farmers invest in their operations to increase food production.
Transcript (2 segments)
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Unknown0:11
The most consistent way to play an ag bull market. Let's go into this issue. Is it peaking? Are we dumb with the every year going up? When I read your stuff, I felt weak about corn. I started thinking maybe the ag cycle was in its, let's say, last phases.
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Charles (chem)0:35
We certainly think the outlook for 2023 is very healthy and quite constructive. The bottom line is that the world needs to produce more food. You mentioned the Russia-Ukraine situation. That put a really big dent into the food supply and really put stress into a very fragile food system to begin with. Our view in 2022 was a very good seed for crop protection products because look, what we need to see right now is farmers invest in their crops and operations and the only way to do that is produce more food and that will get the supply demand.