ST. LOUIS--(BUSINESS WIRE)--Monsanto Company (NYSE: MON) announced today that the European Commission has granted import approval for Roundup Ready 2 Xtend® soybeans. This milestone allows for the import and food/feed use of Roundup Ready 2 Xtend soybeans into the European Union.
The European Commission’s approval follows Monsanto’s February announcement of Chinese import approval. With both the EU and Chinese import approvals and the U.S. Environmental Protection Agency (EPA) in the final stages of review for over-the-top use, Monsanto can now look forward to a full system launch in the United States in 2017 and continues to be in a strong position to supply roughly 15 million U.S. soy acres when the selling season arrives. A full system launch also is planned for Canadian soybean growers in 2017 given the previous Canadian regulatory approval for Roundup Xtend™ with VaporGripTM Technology and XtendiMax™ herbicide with VaporGrip Technology.
“We’ve seen great demand from growers for Roundup Ready 2 Xtend soybeans,” said Brett Begemann, Monsanto President and Chief Operating Officer. “Farmers are telling us they’re looking forward to the benefits of the full Xtend Crop System, including over-the-top use of dicamba and glyphosate. We’re excited to give Canadian growers this opportunity in 2017, along with US growers pending final EPA approval.”
Roundup Ready 2 Xtend is Monsanto’s newest soybean platform that includes tolerance to dicamba. This new dicamba-tolerant trait is stacked with the current Genuity® Roundup Ready 2 Yield® soybean trait technology, which offers farmers the highest yield opportunity with more beans per pod and more bushels per acre.
“It’s important to remind growers that, at this time, there are still no dicamba formulations registered for in-crop use in Roundup Ready 2 Xtend Soybeans or Bollgard II® XtendFlex® in the United States,” said Miriam Paris, U.S. soybean marketing manager. “The approvals for in-crop use of dicamba are in the late stages of review by the EPA and are tracking for a late Summer, early Fall approval. Pending dicamba over-the-top approval, growers will continue to maximize their yield opportunity through the weed management recommendations and incentives provided by Roundup Ready PLUS® Crop Management Solutions.”
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Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops – such as corn, soybeans, and cotton – that help farmers have better harvests while using water and other important resources more efficiently. We work to find sustainable solutions for soil health, help farmers use data to improve farming practices and conserve natural resources, and provide crop protection products to minimize damage from pests and disease. Through programs and partnerships, we collaborate with farmers, researchers, nonprofit organizations, universities and others to help tackle some of the world’s biggest challenges. To learn more about Monsanto, our commitments and our more than 20,000 dedicated employees, please visit: discover.monsanto.com and monsanto.com. Follow our business on Twitter® at twitter.com/MonsantoCo, on the company blog, Beyond the Rows® at monsantoblog.com or subscribe to our News Release RSS Feed.
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Certain statements contained in this release are “forward-looking statements,” such as statements concerning the company’s anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company’s actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company’s exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public understanding and acceptance of our biotechnology and other agricultural products; the success of the company’s research and development activities; the outcomes of major lawsuits and the previously-announced SEC investigation; developments related to foreign currencies and economies; pursuit of acquisitions or other transactions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company’s estimates related to distribution inventory levels; the recent increases in and expected higher levels of indebtedness; the company’s ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters, accidents, and security breaches, including cybersecurity incidents, on the agriculture business or the company’s facilities; and other risks and factors detailed in the company’s most recent periodic report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
ALWAYS READ AND FOLLOW PESTICIDE LABEL DIRECTIONS. Roundup Ready® crops contain genes that confer tolerance to glyphosate, the active ingredient in Roundup® brand agricultural herbicides. Roundup® brand agricultural herbicides will kill crops that are not tolerant to glyphosate. Bollgard II®, Genuity®, Respect the Refuge and Cotton Design®, Roundup Ready 2 Xtend™, Roundup Ready 2 Yield®, Roundup Ready® and Roundup® are trademarks of Monsanto Technology LLC. Bollgard II® XtendFlex® cotton and Design ©2016 Monsanto Company.