Latin America is starting to become a significant growth region for Monsanto (NYSE:MON), as two more approvals for products has been awarded to them: one in Brazil and the other in Argentina.
In Brazil, they approved of Bt Roundup Ready 2 Yield (BtRR2Y) soybeans, and in Argentina approval was given for Genuity VT Triple PRO corn.
What's left in Argentina before commercializing the seed is to complete its hybrid registration, which should happen before the end of October.
Brett Begemann, Monsanto's executive vice president – seeds & traits, said this, "These approvals are great news for our farmer customers in Brazil and Argentina. It's a promising recognition of technology's contribution to agriculture in helping to meet the world's growing grain demands more sustainably."
Everything in Brazil is ready for the introduction of the corn seed. What's left to be done is to secure approval to import the product from Brazil to other countries.
Once that is secured, corn planting and production will begin.
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