Pro Farmer Editors
Another key regulatory milestone has been achieved, says Monsanto Company. Roundup Ready 2 Yield soybeans have received regulatory approval in the European Union for importation. This approval follows the European Food Safety Authority's positive scientific opinion in July concluding Roundup Ready 2 Yield is safe for import as food and feed.
The European Union imports accounted for approximately 10 percent of U.S. soybean exports in 2007, making it a significant purchaser of U.S. soybeans.
Roundup Ready 2 Yield soybeans are the next generation of the popular Roundup Ready(R) technology farmers have used in soybeans since 1996. "In four years of testing, Roundup Ready 2 Yield soybeans have demonstrated a consistent yield advantage of 7 to 11 percent over Roundup Ready soybeans. The four-year average yield increase of Roundup Ready 2 Yield over its first-generation counterpart was 9 percent," states Monsanto in a press release.
Monsanto's Roundup Ready 2 Yield soybeans will be introduced on 1 million to 2 million U.S. acres for the 2009 season as part of a controlled commercial release, followed by a large-scale product launch of 5 million to 6 million U.S. acres scheduled for 2010.
Such approvals are important for ensuring successful biotechnology product launches, as they allow U.S. farmers to more broadly market their grain. Roundup Ready 2 Yield soybeans have been approved as safe for food and feed in 10 countries and regions -- the United States, Australia, Canada, China, the European Union, Japan, Mexico, New Zealand, the Philippines and Taiwan. These countries and regions import the vast majority of U.S. soybean exports, providing U.S. farmers access to a broad market for their grain.