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EC approves new GM soy
Posted: Thursday, December 4, 2008 11:54 am
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In one of its fastest approvals on record, the European Commission has approved Monsanto's Roundup Ready 2 Yield for import into the European Union. Roundup Ready 2 Yield soybeans have been approved as safe for food and feed in nine countries and regions -- the United States, Canada, Mexico, Taiwan, Japan, the Philippines, Australia, New Zealand and China. These countries import more than 70 percent of U.S. soybean exports, providing U.S. farmers access to a broad market. The EC's failure to add its approval would further have isolated the trading bloc from lower-priced international commodities.

Matthew Dalton of Dow Jones Newswires reports that farmers and some EU officials have worried the EU's complex approval process for biotech products would deprive farmers of imported soybeans, a crucial source of protein for the continent's livestock.

Roundup Ready 2 is one of Monsanto's major new products. It will be planted over millions of acres in the U.S. in the next growing season, and the company is seeking approval for farmers to plant it in Brazil and Argentina, the two largest exporters of soybeans to the E.U.

It is impervious to the Roundup herbicide, also made by Monsanto, and yields 7%-11% more than the first version of Roundup Ready soybean, Monsanto says.

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