Biotech Updates

Biotech Companies See Food Prices Boosting GM Crops

March 18, 2011

Biotech seed companies are expecting that increase in food prices may lead to better acceptance of biotech seeds in emerging markets. Daniel Rahier, head of the biotech policy of DuPont Co., said that there's been a transition in the mood of countries like Indonesia, where the government is encouraging companies to apply for the approval of biotech seeds. This is the same case with Vietnam, Cambodia, and Kenya.

On the other hand, Stefan Marcinowski, responsible for Crop Protection in BASF Plant Science, said that growing food prices are "a wake-up call to use all available technologies." Hugh Grant, CEO of Monsanto Co. said that several agricultural areas of the world "have made significant policy shifts" in the past 24 months.