February 6, 2008

Monsanto's second-generation soy gets nod from 3 Asian countries

Japan, the Philippines and Taiwan gave their final regulatory approval to Monsanto's second-generation engineered soy, Roundup Ready 2 Yield.

The St. Louis-based company said the approvals in Asia represent progress toward the commercialization of its soy technology.

Last July, Roundup Ready 2 Yield soy completed the regulatory process in the US and Canada, while it is still under scientific review by the EU Food Safety Authority, China China and other export markets, Monsanto said.

The company plans a controlled commercial release of Roundup Ready 2 Yield soy on 1 million to 2 million acres in 2009, prior to a full launch on 5 million to 6 million acres by 2010.

Just recently, Monsanto announced to shift focus from corn to developing new biotech soy on foreseen demand from China and other health-conscious consumers across the globe.

The Roundup Ready 2 Yield soy is said to give farmers a yield increase between 7 and 11 percent in 2009.

Monsanto is a multinational agricultural biotechnology corporation. It is the world's leading producer of the herbicide glyphosate, marketed as "Roundup". Monsanto also produces genetically engineered (GE) seed, holding 70 percent - 100 percent market share for various crops.