March 5, 2008

China approves new corn hybrid seeds

Beijing-based Origin Agritech Ltd., said Tuesday that its locally developed five new corn hybrid seeds gained approval for distribution in provinces throughout Central and West China.

Origin Agritech said that for a seed variety to be approved, the applicant has to undergo two growing seasons of monitored growth in at least five different locations in the region.

Only seeds that have an increased yield of 8 percent or higher against the control seeds, and that rank in the top six among all seeds being tested, are granted a second year of testing.

The company presently sells over 50 corn hybrids across China. Its shares rose 61 cents, to 10 percent, to US$6.64 in morning trading.