Agricultores argentinos chegam a acordo com Monsanto sobre royalties

Farmers in Argentina have agreed to pay royalties to seed companies including Monsanto when they replant the companies” genetically modified seeds.

The Argentine Rural Society, representing the farmers, and Argentine Seed Producers” Association, representing the seed companies, confirmed the agreement to Reuters.

A 1973 law allowed Argentine farmers to use seeds from their harvests in later plantings without paying additional royalties. This prompted a long-running dispute with seed companies such as Creve Coeur-based Monsanto.

Monsanto (NYSE: MON) said in 2016 it was suspending plans to launch future soybean technologies in Argentina and reviewing its other business there after a dispute with government regulators over the royalty payments.

Under the new agreement, Argentine farmers have agreed to pay perpetual royalties.

“There is recognition that these (royalties) must be paid, and that we producers have to pay for this service,” Daniel Pelegrina, president of the Argentine Rural Society, told Reuters.

Argentina is the world”s third largest soybean exporter.

Business Journal, 22/02/2018