MON Obtains Soy/Corn Approvals in Brazil and Argentina
[The new soy product for Brazil adds the Bt insect-protection trait to the “Roundup Ready 2 Yield” product without insect protection that was recently approved in Brazil (#msg-53568148) and has been on the market in the US for two years. MON developed RR2Y soybeans with insect protection specifically for Brazil, which is the world’s second-largest producer of soybeans, trailing only the US. (Insect-protected soybeans aren’t needed for the US market because insect damage is not a serious problem for US soybeans.)
The new corn product for Argentina, VT Triple Pro, is identical to the product by the same name that MON sells in the Southern US, which provides protection against above- and below-ground insects. (In the US, VT Triple Pro is a cheaper alternative to SmartStax where growers do not need all of the features of SmartStax.)
MON does not sell soybeans in Argentina because its soybean IP has been ripped off and is not protected by patents there (#msg-51993032). This is not a problem with corn, however, because commercial corn seeds are hybrids and hence they can’t be reused from season to season without loss of efficacy.
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.]
›Monsanto Achieves Corn and Soybean Product Approvals in Latin America Approvals of Genuity® VT Triple PROTM Corn in Argentina and Bt Roundup Ready 2 Yield® Soybeans in Brazil Allow Company to Deliver New Technologies to Farmers
Wednesday October 13, 2010, 9:00 am EDT
ST. LOUIS, Oct. 13, 2010 /PRNewswire/ -- Corn and soybean farmers in Latin America are now one step closer to planting improved next-generation technologies to support the world's growing demands for food and feed. Monsanto Company (NYSE:MON) has secured two new approvals in Latin America: Genuity® VT Triple PRO™ corn in Argentina and Bt Roundup Ready 2 Yield® (BtRR2Y) soybeans in Brazil.
"These approvals are great news for our farmer customers in Brazil and Argentina," said Brett Begemann, executive vice president – seeds & traits for Monsanto. "It's a promising recognition of technology's contribution to agriculture in helping to meet the world's growing grain demands more sustainably."
In Argentina, the company has received full regulatory approval for Genuity VT Triple PRO corn, which represents the first Genuity trait launched from Monsanto's pipeline in South America. Genuity VT Triple PRO corn provides a broader spectrum of insect control for below-and above-ground insects, resulting in higher yield potential and better crop stability. It is the industry's first dual mode-of-action above-ground insect protection in corn, stacked with below ground insect protection and Roundup Ready® 2 technology. The next and last step prior to commercialization is hybrid registration, which the company expects to complete this month.
In Brazil, Monsanto also has received full regulatory approval for insect-protected and glyphosate-tolerant BtRR2Y soybeans from the National Technical Biosafety Committee (CTNBio). The BtRR2Y soybean represents the first trait the company has developed specifically for a market outside the United States and the only soybean to combine Bt insect-protection technology with herbicide tolerance, which together provide a higher yield opportunity. BtRR2Y soybeans will be introduced in Brazil after import approvals in important markets are secured.
Both products bring together sustainable agricultural practices with the benefits of the reduced use of insecticides, while increasing production without expanding the area farmed. The Roundup Ready system supports sustainable agricultural practices such as no-till planting that reduce erosion and soil compacting while conserving fuel, which can lead to a significant reduction of emissions of carbon dioxide.
Latin America is a key growth market for Monsanto. More traits are becoming available in Brazil, and Argentina continues to see an uptick in acreage as growers upgrade to new technologies. The two markets are expected to serve as platforms to support the growing demands for grain and protein from global markets including China.‹
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