President of Syngenta: Argentina needs to expedite Seed Law

Date:08-22-2016

President of Syngenta Argentina Antonio Aracre has asked again for the quick approval of the new Seed Law in the country. In an interview with journalists at the conference of the National Association of No-Tillage Farmers of Argentina, Aracre affirmed that this was one of the major markets for the company, but a delay in approving the law, which protects intellectual property rights, could compromise future investments.

"I have said it before, and I’m going to say it again: Investors do not have infinite patience. Between Brazil and Argentina, almost 50% of the world's soybeans are produced here, so it would be very difficult for any company to leave one of these markets. Besides this, Argentina has excellent human resources for research and development, but the current law does not protect us, and the state does not act in enforcing seed royalty payments,” noted Aracre, adding that the new law would create 100,000 jobs in the soybean chain alone, supported by US$1 billion in investments.

The president of Syngenta Argentina was also skeptical that producers in the country would not be willing to pay for the technology: “I doubt that, with new rules and enforcement, the farmers will not pay for the technology that they need so much. Of course, we will not legislate on previous contracts, only future contracts,” he declared.

On the company's Argentinean operations, Aracre said measures to support the farmers had been adopted but more needed to be done. “The policy of the previous administration nullified the commodities boom in Argentina, so the profits were the same as 2001. Now, the new administration has tried to exclusively favor exports, which makes sense to Argentina, and the results will be seen quickly. However, the agribusiness and legal certainty are still lacking in the country, or the investment would be massive,” he concluded.