Home Indiana Agriculture News Biotech Approval Delays have Large Impact

Biotech Approval Delays have Large Impact

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USB-Laura Foell on HAT

Laura FoellA new white paper shows the potential financial ramifications that delays in international approvals of new biotech traits could have on farmers.

The research shows a three-year postponement in global approval of biotech-enhanced soybean traits any time within the next 10 years would cost 19 billion dollars for farmers and consumers.

The paper was released during a meeting between Chinese governmental officials and soybean farmer-leaders from the U.S., Argentina, Brazil and Paraguay as part of a recent International Soy Growers Alliance mission to China.

U.S. Soybean Export Council chair Laura Foell says the mission provided an opportunity for the world’s largest soy producers to show that resolving approval delays will benefit the entire supply chain.

“So, as we were armed with information, we joined the farmers from the countries of Argentina, Brazil, Paraguay to show that we have a united front because we represent more than 90% of the world’s soybean exports,” she said.

For more information on the importance of biotech approvals, visit WWW.UNITEDSOYBEAN.ORG.