Monsanto is offering Brazilian farmers a 16% discount on its newest genetically modified soybean seeds called Intacta soy on the condition that farmers drop claims that patents on older beans expired years ago. Growers argue that the patent on Monsanto’s RoundUp Ready soybean seeds expired in 2010 and that the company should repay all royalties collected since then. Monsanto counters that the patent does not expire until 2014. Intacta soy, which is the first seed Monsanto has created specifically for the Latin American market, went on sale July 24th in Brazil for US$51.23 per hectare. Farmers who agree to drop their claims against the company will receive a discounted price of approximately $43.04 per hectare. The Mato Grosso State Growers Federation which represents farmers from that state has released a statement that they have agreed to drop all patent claims.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service.