ST. LOUIS, Oct. 13, 2010 /PRNewswire/ -- Corn and soybean farmers in Latin America are now one step closer to planting improved next-generation technologies to support the world's growing demands for food and feed. Monsanto Company (NYSE: MON) has secured two new approvals in Latin America: Genuity® VT Triple PRO™ corn in Argentina and Bt Roundup Ready 2 Yield® (BtRR2Y) soybeans in Brazil.
"These approvals are great news for our farmer customers in Brazil and Argentina," said Brett Begemann, executive vice president – seeds & traits for Monsanto. "It's a promising recognition of technology's contribution to agriculture in helping to meet the world's growing grain demands more sustainably."
In Argentina, the company has received full regulatory approval for Genuity VT Triple PRO corn, which represents the first Genuity trait launched from Monsanto's pipeline in South America. Genuity VT Triple PRO corn provides a broader spectrum of insect control for below-and above-ground insects, resulting in higher yield potential and better crop stability. It is the industry's first dual mode-of-action above-ground insect protection in corn, stacked with below ground insect protection and Roundup Ready® 2 technology. The next and last step prior to commercialization is hybrid registration, which the company expects to complete this month.
In Brazil, Monsanto also has received full regulatory approval for insect-protected and glyphosate-tolerant BtRR2Y soybeans from the National Technical Biosafety Committee (CTNBio). The BtRR2Y soybean represents the first trait the company has developed specifically for a market outside the United States and the only soybean to combine Bt insect-protection technology with herbicide tolerance, which together provide a higher yield opportunity. BtRR2Y soybeans will be introduced in Brazil after import approvals in important markets are secured.
Both products bring together sustainable agricultural practices with the benefits of the reduced use of insecticides, while increasing production without expanding the area farmed. The Roundup Ready system supports sustainable agricultural practices such as no-till planting that reduce erosion and soil compacting while conserving fuel, which can lead to a significant reduction of emissions of carbon dioxide.
Latin America is a key growth market for Monsanto. More traits are becoming available in Brazil, and Argentina continues to see an uptick in acreage as growers upgrade to new technologies. The two markets are expected to serve as platforms to support the growing demands for grain and protein from global markets including China.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter at www.twitter.com/MonsantoCo, on Facebook at www.facebook.com/MonsantoCo, or subscribe to our News Release RSS Feed.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent reports on Forms 10-Q and 10-K. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
Notes to editors: Monsanto and the Vine design, Genuity, SmartStax, Roundup Ready 2 Yield, and VT Triple PRO are trademarks owned by Monsanto Technology LLC.
CONTACT Media – Kelli Powers (314-694-4003)
SOURCE Monsanto Company