Biotech Values

[DewDiligence]

Oops—MON’s soybean settlement did not include the Brazilian state of Mato Grosso, according to Reuters:

http://www.reuters.com/article/2013/01/23/monsanto-brazil-idUSL4N0AS6I820130123

Producers in 10 Brazilian states, but not Mato Grosso, accepted Monsanto's proposal in exchange for the suspension of royalties charged on RoundupReady-1 soybeans starting with the current 2012/13 harvest, according to the CNA. Farmers accepting St. Louis-based Monsanto's agreement account for 70 percent of producers in Brazil, the Confederation said in a statement.

Mato Grosso's state soy association Aprosoja and its powerful farming and ranching federation Famato issued a joint statement on Wednesday saying they rejected the agreement and will continue to pursue legal action against Monsanto. Producers in Mato Grosso are still paying royalties on Roundup Ready [i.e. RR1] technology, but the funds will not be released to Monsanto while the judicial process is ongoing.

So, there is more work to be done. Mato Grosso is Brazil’s largest farming state.