Monsanto Company (NYSE: MON) welcomed Wednesday the European Union authorization of two of its corn technology combinations, Genuity VT Double PRO (MON 89034 X NK603) and YieldGard VT Triple (MON 88017 X MON810). The decisions cover the import, processing and food and feed use of grain and processed products. The final step in the approval process is publication of the decision by the European Commission.
"We welcome the Commission's decision to follow the independent scientific advice of the European Food Safety Authority," noted Monsanto Global Regulatory Lead Jerry Hjelle. "Farmers use these and other technologies to help improve the productivity of their farms and raise grain in a more sustainable way that uses fewer pesticides. These authorizations will also enable shipment of grain and its derivatives from these products for use as feed ingredients by European livestock industry."
Import approvals for both products have already been obtained in all key countries that import corn from the United States.
YieldGard VT Triple technology has been very popular with U.S. farmers and is widely used to help control insects that feed on corn plants above and below ground. The technology is estimated to be on nearly 30 percent of the corn acres in the United States this year.
Genuity VT Double PRO was recently introduced in the United States and is currently under review for cultivation approval in Argentina, Brazil, Mexico, South Africa, Philippines, Indonesia and Vietnam.
Hjelle added, "We anticipate Genuity VT Double PRO will become an important tool for pest control for farmers with selective insect pressures helping reduce the use of pesticides and increasing yields."