Monsanto, Argentina reach deal on GMO soybean royalties

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Monsanto Co. and Argentina’s government have reached a final accord on soybean seed royalty payments, according to three government officials with knowledge of the situation.

A resolution written by the Argentine government seed commission in conjunction with the . . . seed producer’s legal advisers [was] sent [June 14] for approval to the Argentine Seed Institute. Once it is approved, it will be enacted June 21, according to the officials. . .

Two weeks ago Monsanto agreed to give the Argentine Seed Institute, also known by its Spanish acronym Inase, full control to oversee the detection of crops grown illicitly from its Intacta genetically modified soybean seeds. This represents a cultural shift for farmers in the world’s third-largest soybean grower who generally avoid paying royalties by using GMO seeds from previous harvests or purchased from non-registered suppliers.

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“We are still in talks for a resolution, hoping to seal a final deal soon,” Monsanto spokeswoman Victoria Manny said in a phone interview from Buenos Aires. . . .

Read full, original post: Monsanto-Argentina Seed Pact Said to Become Effective Next Week

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