The American Soybean Association is pleased that final regulatory approval has been received in China for the importation of Monsanto's second generation Roundup Ready soybean called Roundup Ready 2 Yield, also known as event MON 89788, which Monsanto anticipates bringing to the U.S. market in 2009.
"China's approval of the Roundup Ready 2 Yield soybean prior to our 2009 seed-buying season is welcome news for U.S. soybean farmers," said ASA first vice president Johnny Dodson, a soybean producer from Halls, Tenn. "Timely overseas regulatory approvals are critical because growers have rapidly adopted new biotech-enhanced seed varieties as soon as they became available."
Last year China purchased more than $4 billion worth of soybeans from the United States, and as the standard of living continues to rise in China, so will the demand for U.S. soybeans. Roundup Ready 2 Yield soybeans are one of the key technologies that will help U.S. farmers meet the world's growing demand for food, feed and fuel made from U.S. soybeans.
"When you consider that China is the largest export customer for U.S. soybeans, it is easy to see why ASA is so appreciative that China has granted import approval for Roundup Ready 2 Yield soybeans," Dodson said. "ASA has worked for more than 20 years with the Chinese to build market demand for U.S. soybeans and soy products.