February 19, 2008

Philippines approves entry of Monsanto's GM soy 

The Philippines has approved the entry of genetically modified soy developed by US-based Monsanto Co. (MON), a senior agriculture official said Tuesday (February 19, 2008).

Approval of Monsanto's Roundup Ready 2 Yield soybeans provides for the "direct use" of the variety as food and feed and for processing, said Joel Rudinas, director of the Bureau of Plant Industry.

But the approval, issued late last year, does not cover commercial cultivation of the variety, he added.

The move makes it easier for importers to bring in GM soy, given surging prices in the international market.

The country also recently extended for another five years the commercial use of Monsanto's Bt Corn.