BioCentury
ARTICLE | Regulation

Crying foul for soy, in Argentina

February 28, 2000 8:00 AM UTC

Good news for Monsanto Co. from South America: Argentinian farmers like the company's Roundup Ready soybeans even more than their counterparts in the U.S. The bad news: competition from a thriving black market in the genetically modified soy seeds in Argentina that has forced Monsanto to sell them at a big discount.

Congress asked the General Accounting Office to investigate U.S. farmers' complaints that they are being over-charged for the herbicide-resistant seeds. Last week the GAO said that Argentinian farmers pay $12-$15 for a 50-pound bag of Roundup Ready soybean seeds that costs $20-$23 in the U.S. ...