Insect-Protected RR2Y Soybeans Achieve Commercialization in Brazil
[This product is noteworthy insofar as it’s the first time Monsanto has developed a biotech trait intended for use only in non-US fields. The new product contains the second-generation Roundup Ready 2 Yield (RR2Y) trait already in US commercial use plus an additional gene for insect protection. The insect this trait protects against is not a problem on US soybean farms, but it’s a big problem in Brazil, the second-largest soybean producer in the world.
Unlike Argentina, Brazil has established—and enforced—a system by which MON collects a royalty on sales of its biotech crops at the time of harvest. In this way, even if growers violate MON’s seed license by reusing seeds from the prior season (which can be done because soybean seeds are not hybrids), growers still have to pay MON’s royalty when they bring their grain to market.]
ST. LOUIS, Aug. 20, 2010 – /PRNewswire-FirstCall/ -- Monsanto Company (NYSE:MON) confirmed that at yesterday's National Technical Biosafety Committee (CTNBio) meeting in Brazil, the committee approved Monsanto's Bt Roundup Ready 2 Yield® soybean product for planting in Brazil. This is an important step toward the Brazilian commercialization of the first biotechnology trait Monsanto has developed specifically for a non-U.S. market.
"This is an important product for Brazilian soybean farmers because it protects against insects that cause significant economic loss in soybean production in Brazil, and provides the increased yield provided by the Roundup Ready 2 Yield trait," said Roy Fuchs, oilseed technology lead for Monsanto.
Submissions to key soybean export markets continue in regulatory review. The company will commercialize Bt Roundup Ready 2 Yield soybeans in Brazil upon completion of global approvals in key export markets.‹
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