Monsanto puts plans for biotech wheat on hold

[Book Lover]

http://sfgate.com/cgi-bin/article.cgi?file=/news/archive/2004/05/10/financial1209EDT0087.DTL


Since 1997, the St. Louis-based agricultural and biotech company had been developing a Roundup Ready variety of hard red spring wheat. Instead, Monsanto said it will focus on development of new and improved biotech traits in corn, cotton and oilseeds.

"As a result of our portfolio review and dialogue with wheat industry leaders, we recognize the business opportunities with Roundup Ready spring wheat are less attractive relative to Monsanto's other commercial priorities," said Carl Casale, Monsanto's executive vice president.

...

"Monsanto has run up against the reality of market rejection from both farmers and consumers and they realize that basically no one wanted this stuff," said Joe Mendelson, legal director for the Washington-based Center for Food Safety, an opponent of genetically engineered crops. "They're in full retreat."

Casale said that acreage planted in the U.S. and Canadian spring wheat markets have declined nearly 25 percent since 1997.

[Ediacara]

1. I'm not surprised

I worked at a temp job conducting telephone surveys of Montana farmers on biotech issues, and specifically RR Wheat.

Most people didn't undersand biotech very much, but were worried about global market share. Those that did understand biotech were all either gung-ho for RR Wheat, or were 100% against RR Wheat. The one common theme though was that they were all SCARED SHITLESS about losing global wheat markets because no one wanted to buy this stuff.

[Book Lover]

2. I read a similar

story on sfgate.com a few weeks ago. California farmers spoke against biotech crops not because of the ecological damage, but because no one wants to buy them. That's a good enough reason, I say.