Wednesday, November 3, 2010

Monsanto (NYSE:MON) Sugar Beet Decision Could be Reversed

The USDA has put forward a plan in response to the ruling by a judge which would disallow the planting of Monsanto (NYSE:MON) sugar beets next year.

While offering several options in their plan, the USDA prefers to allow the planting of sugar beets in 2011 because it could result in a 20 percent drop in sugar production in the U.S. if they don't.

A court in California ruled the sugar beets could be produced again until May 2012 while a complete environmental impact study was performed; something the judge determined allegedly hadn't been done.

The USDA gave Monsanto permission to plant the sugar beets in 2005. Genetically modified crops are usually enhanced with the ability to resist Roundup herbicide, which is also produced by Monsanto.

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