Bayer CropScience, a subgroup of Bayer AG (BYR.L,BAYRY.PK,BAYZF.PK), said it plans to set up a new breeding center in the Wimmera region, near Horsham, Victoria, Australia, focused on wheat and oilseeds. The company plans to invest around 12 million euros for the new station in Western Victoria.
The target is the development of new varieties with higher yields and productivity improvements tailored to Australian conditions. Bayer's breeding activities for wheat and oilseeds in Australia will also be coordinated from the new center. A long term rental agreement for land on which to build the laboratory and glasshouse facilities have been agreed with Longerenong College and Workco Ltd. Up to 20 full-time employees will work at the center in the future.
Construction of the new breeding center will begin in the coming months with first local breeding programs expected to yield results for Australian farmers within the decade.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.