Monsanto deals with 500 companies on Intacta‏ sales

Monsanto announced a deal with nearly 500 companies to receive GMO soybeans with the Intacta technology in Brazil. The announcement comes in response to a statement from the Brazilian Association of Oilseed Industry (Abiove), in which it says earlier that there would be a dead-lock in future negotiation of royalties collections.

 

"So far, nearly 500 companies gathered over 3,000 delivery locations and already signed the agreement with Monsanto to store and commercialize grains with Intacta technology. Therefore, farmers will have several options for the grains delivery", stated Monsanto.

 

Also in an official statement, Abiove noted that the major companies in the sectors are afraid to close a deal with "juridical implications" with Monsanto.

 

According to Abiove, Monsanto does not have a business plan to accomplish on its own the monitoring of the planting of Intacta soybeans and to charge royalties from producers that use seeds saved from previous harvests.

 

"This way, due to this background of success, Monsanto believes that the negotiation companies represented by Abiove will advance in the direction of the best solution for all the members of the soybean chain, which will continue to enable investments on biotechnology in Brazilian agriculture," noted by the multinational.