Dow AgroSciences will launch a genetically engineered soybean seed that has been barred by major importers under tight controls in the United States next year, the company said … as it seeks to avoid roiling global trade while making sales to farmers.
Archer Daniels Midland Co, one of the world’s largest grain companies, will oversee the handling of the harvests to keep them out of Europe and China, which have not yet approved imports of the soybeans.
The arrangement shows the lengths that Dow, a division of DowDuPont Inc, is taking to get its Enlist E3 soybean seeds to market as it faces increasing competition for U.S. sales from Monsanto Inc.
Dow also is coping with long regulatory reviews by China and Europe, importers that have frustrated the U.S. seed sector for years with slow approvals for new GMO crops. The company first submitted E3 soybeans for clearance in Europe in 2012 and in China in 2013.
Getting new genetically engineered seeds to market quickly is important for seed companies because it can take up to 10 years and $150 million to develop products.
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