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BRAZIL – GM SUGARCANE PENDING?
Monsanto studies entry into Brazil transgenic cane market
7 December 2006. Source: Dow Jones News Service
SAO PAULO - The Brazilian subsidiary of U.S. biotech multinational Monsanto Co. (MON) is conducting studies into new, transgenic sugarcane varieties, with an eye to entering the potentially lucrative market, a spokeswoman for Monsanto do Brasil confirmed Wednesday.
"There are ongoing studies, since it's an interesting market, but there is nothing concrete yet," the spokeswoman said in an e-mail to Dow Jones Newswires. A report on Wednesday in local Valor Economico newspaper added that Monsanto – which sells its transgenic Roundup Ready soy variety in Brazil - has already formed a partnership with an unnamed local company to develop genetically modified sugarcane varieties.
However, "there is nothing official yet," said the Monsanto spokeswoman. If the U.S. multinational does enter Brazil's sugarcane sector, it would mark an evolution from the company's current focus on developing genetically modified, or GM, varieties of soybean, cotton and grains, say local analysts.
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