Argentina approving Monsanto's GM soybeans in the week ending Aug. 18, as country looks to increase crop output, government official says

LOS ANGELES , August 14, 2012 () – Argentina is planning to approve Monsanto Co.’s genetically modified Roundup Ready 2 soybean seeds during the week that ends on Aug. 18, according to an Aug. 13 statement by Agriculture Secretary Lorenzo Basso, Reuters reported the same day.

The country is aiming to continue increasing its crop output, Basso added.

After Basso signed the resolution on Aug. 13, it must be published in the government's official gazette in order to take affect. Bazzo indicated that this would most likely happen sometime during the current week.

Argentina approved a new GM corn crop that was developed by Monsanto and Dow Chemical CO.’s Dow AgroSciences division two weeks ago.

While farmers in Argentina adopted Monsanto’s original Roundup Ready seeds during the 1990s, the company failed to patent its technology in Argentina. Subsequently, Monsanto has engaged in multi-year legal battles to try and collect royalties.

Brazilian farmers are already planting Monsanto’s Roundup Ready 2 seeds.

Argentina is the largest exporter of soymeal and soyoil in the world, in addition to being the third-largest soybean exporter. The country’s soybean output fell to 40.1 million tonnes in 2011/2012 following a drought, a 23.9% decrease in comparison to the country’s record high soybean output of 52.7 million tonnes in 2009/2010.

The primary source of this article is Reuters, London, England, on Aug. 13, 2012.

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