Latin American Soybean Producers to Charge Sale Royalty on GM Seeds

[Robbien]

April 4 (Bloomberg) -- Brazil, Argentina and other South American soybean producers agreed to charge royalties on the purchase of genetically modified soybean seeds, after deciding against royalties on the harvested crops.

Agriculture officials from South America, including representatives from Chile, Colombia, Uruguay, Bolivia and Paraguay, announced the policy after an April 1 meeting in Cartagena, Colombia, to study proposals from Monsanto Co., the world's biggest developer of genetically modified crops.

Monsanto had been seeking to have the royalties charged on the grains after harvested, the Argentine Agriculture Secretary said in a statement. The officials ``agreed to coordinate action to defend producers in the region from all monopolistic practices that could affect their income,'' the statement said.

Monsanto shares fell $3.16, or 4.9 percent to $61.50 at 2:06 p.m. in New York.

http://www.bloomberg.com/apps/news?pid=10000086&sid=aqAKUdasQzdQ&refer=latin_america

{i]Score Latin America 1; Capitalistic elites 0

[Toucano]

1. Also in the score:

Earth and biodiversity: -1

GM crops are bad news.

[Robbien]

3. Sad but true

But from what I read, Latin America has no choice under the trade agreements.

The way things are going, soon there will only be GM seeds on the planet.

[xxqqqzme]

2. way 2 turn the tables.

[Lori Price CLG]

4. Monsanto is a bigger terrorist threat than the Bush regime n/t