Iowa Public Television

 

Monsanto Begins Collecting Brazilian Royalties

posted on May 7, 2004


U.S. agribusiness company Monsanto has begun collecting royalties on soybeans produced in Brazil from its genetically modified Roundup Ready seeds.

The collection represents a triumph for Monsanto, which over the past few years has been seeking compensation for the illicit production of its seeds in the southern state of Rio Grande do Sul.

According to Monsanto's marketing director in Brazil, crop losses in Rio Grande do Sul make it difficult to forecast royalty payments this year. But based on the latest Agricultural Ministry soybean forecast of 5.526 million metric tons for the state and an estimate that 80 percent of the state's produce is Roundup Ready, revenues should top more than $130 million.


Tags: agriculture Brazil crops news South America soybeans