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UPDATE 1-China approves Monsanto GMO soybean variety for import

Published 2016-02-03, 01:37 p/m
© Reuters. UPDATE 1-China approves Monsanto GMO soybean variety for import
MON
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(Adds details on seed sales in United States and Canada, other
background)
CHICAGO, Feb 3 (Reuters) - Monsanto (N:MON) Co MON.N said on
Wednesday it received import approval from China for its new
genetically modified Roundup Ready 2 Xtend soybeans and that it
will begin selling the seeds in the United States and Canada.
China, the world's biggest soybean importer, does not allow
imports of new genetically modified crops until they are
approved by government regulators.
The U.S. seed and agrochemical company's next-generation
soybean variety is engineered to tolerate applications of
glyphosate and dicamba herbicides amid a growing problem of
glyphosate-resistant weeds in North America.
Dicamba use is allowed in Canada, but not yet approved in
the United States, where the U.S. Environmental Protection
Agency is still reviewing the chemical, Monsanto said.
Monsanto said it is offering discounts to U.S. farmers
buying Roundup Ready 2 Xtend seeds in case the regulatory
approval does not arrive in time for the 2016 growing season.
The company is aiming for 3 million acres planted in the
upcoming season and expects the genetic technology to be planted
to two-thirds of U.S. soybean acres by 2019. The company also
licenses its GMO properties to other seed companies.
Monsanto shares were up 1 percent at $88.19 in early
afternoon.

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