Nasdaq, 10 May 2016
Monsanto Co. said it could pull its biotech soybean seeds out of Argentina, one of the biggest overseas markets for U.S. agricultural firms, as it confronts difficulties collecting seed royalties and a decline in the country’s currency.
The seed giant is discussing with Argentina’s government a royalty-collection plan that Monsanto says is necessary to recoup investment on genetically engineered soybeans that can repel destructive worms, which Monsanto began marketing in Argentina about two years ago.
The administration of Argentina President Mauricio Macri, elected in December, has raised questions around Monsanto’s royalty-collection model, in which some farmers pay the fees up front and others pay when they deliver their crops to grain elevators and exporters.
Mint Press News, 10 May 2016