After months (ok, years) of struggling over whether and how to allow genetically modified crops to be planted in its land, Brazil has just signed a biotech safety law that will allow for such crops, with certain protections. Monsanto is a winner from this law, as it wants to plant more of its Roundup Ready soybeans there. On Tuesday, Monsanto signed a royalty accord with soybean growers in the southern state of Rio Grande do Sul, one of the larger agriculture centers in Brazil.
With Brazil's national technical commission for biosafety (CTNBio) already having approved the introduction of Monsanto's anti-boll weevil cotton, Bollgard, a week before, it looks like Monsanto is taking no time to start research and production. It might not be surprising that Monsanto's stock price has also increased by a couple percentage points over the last couple days (MON).