The following is an excerpt.
BASF SE (BAS.XE) has given up seeking approval for genetically modified potatoes in Europe, the German chemical company said Tuesday, after concerted opposition from consumers, farmers and lawmakers.
BASF said it will “discontinue the pursuit of regulatory approvals for the Fortuna, Amadea, and Modena potato projects in Europe because continued investment cannot be justified due to uncertainty in the regulatory environment and threats [over the destruction of crops].”
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