Monsanto Company (NYSE: MON) confirmed that at yesterday's National Technical Biosafety Committee (CTNBio) meeting in Brazil, the committee approved Monsanto's Bt Roundup Ready 2 Yield® soybean product for planting in Brazil. This is an important step toward the Brazilian commercialization of the first biotechnology trait Monsanto has developed specifically for a non-U.S. market.
"This is an important product for Brazilian soybean farmers because it protects against insects that cause significant economic loss in soybean production in Brazil, and provides the increased yield provided by the Roundup Ready 2 Yield trait," said Roy Fuchs, oilseed technology lead for Monsanto.
Submissions to key soybean export markets continue in regulatory review. The company will commercialize Bt Roundup Ready 2 Yield soybeans in Brazil upon completion of global approvals in key export markets.
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