By introducing transparent pay for seeds and traits, Monsanto modernized the seed business and provided an incentive to the public sector to get engaged and provide improved genetic material. There is vast evidence that GMO varieties tend to increase yields, reduce insecticide use (while increasing herbicide use), especially in developing countries, and increase farmer profit. Nevertheless, this new approach angered purists and caused significant backlash and legal cases against Monsanto and “GMOs” in general.
The opposition to Monsanto wasn’t confined to activists. Some chemical companies lost billions in sales of chemicals that were replaced by genetics. Their interest was to ban, or at least slow, the introduction of GM traits to maintain profit….
Transgenic crops were introduced in Europe … during the Mad Cow disease outbreak that triggered high levels of mistrust of governments and science.
Related on the SLP
These objections resulted in very strong regulations of GM technologies which increased the cost of developing new varieties and traits…. But the strong regulation might have indirectly assisted Monsanto … because of the high cost of entry to the industry that reduced competition. … The political objections to GM foods led Monsanto to invest millions in various political campaigns.… These efforts, and the continuous debate, painted Monsanto as one of the most hated companies in the world.
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