NEWS
Monsanto, Brazil Farms Ink Royalty Pact
Alastair Stewart South America Correspondent
Wed Jan 23, 2013 05:52 PM CST

SAO PAULO, Brazil (DTN) -- Biotech giant Monsanto and Brazilian farm groups Wednesday announced an agreement that ends a dispute over royalties on first-generation Roundup Ready soybeans (RR1) and establishes rules for the introduction of second-generation Intacta RR2 Pro soybean seeds.

But groups in Mato Grosso, Brazil's No. 1 soy state, refused to sign and vowed to continue to fight the St. Louis-based company in the courts.

Brazil's National Agriculture Confederation (CNA) and farm groups from 10 states, representing 70% of soybean output, accepted Monsanto's proposal, under which the company suspends royalties on RR1 beans for this season and next. ...

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