Thank You!
Search OCA:
Get Local!

Find Local News, Events & Green Businesses on OCA's State Pages:

OCA News Sections

Organic Consumers Association

GMO Giant Monsanto under Investigation

For related articles and more information, please visit OCA's Genetic Engineeing page, and our Millions Against Monsanto page.

Last month the US Securities and Exchange Commission (SEC) began an investigation into Monsanto's glyphosate herbicide business - The Monsanto Company is the world's largest genetically modified seed producer. This investigation looks into Monsanto's incentive program for Roundup distributors for 2009 and 2010, which was discontinued last summer as part of Monsanto's larger restructuring of its herbicide business.

The US company provides cash incentives to distributors to buy Roundup glyphosate, the world's leading herbicide, and Roundup Ready seeds. Its most recent program, introduced last year, offered up to $20 per acre. Federal regulators are now investigating Monsanto's incentive program for distributors who sell the company's herbicide Roundup to farmers.

Hugh Grant, Monsanto's Chairman, President and CEO, said the investigation is not related to Monsanto's genetically modified (GMO) business. "We take this seriously," said Grant. "Out of respect for the SEC and their processes, there's really not a great deal I can say at the moment. It's early days. We're just starting document production and we're co-operating to our full ability."

Last year, the Justice Department formally requested information on Monsanto's herbicide-tolerant soybean seed business as part of an investigation into anti competitive practices. The Justice Department's antitrust division "is investigating the possibility of anti competitive practices in the seed industry," said Gina Talamona, department spokeswoman.


>>> Read the Full Article

For more information on this topic or related issues you can search the thousands of archived articles on the OCA website using keywords: