Monsanto may lose GM soya royalties throughout Brazil

[AgBar]

http://www.nature.com/news/monsanto-...brazil-1.10837

The biotechnology giant Monsanto is one step closer to losing billions of dollars in revenues from its genetically-modified (GM) Roundup Ready soya beans, following a ruling this week by the Brazilian Supreme Court of Justice.


The decision marks the latest chapter of an epic legal battle, in which millions of Brazilian farmers are trying to recover payments made to the company over the past decade. It could also have important implications for research in the country, some scientists say.

Since the legalization, Monsanto has charged Brazilian farmers 2% of their sales of Roundup Ready soya beans, which now account for an estimated 85% of the nation’s soya-bean crop. The company also tests Brazilian soya beans that are sold as non-GM — if they turn out to be Roundup Ready, the company charges the farmers responsible for the crops some 3% of their sales.

[TimoneX]

Good. Hopefully this frankencompany will be bankrupted and the world will be a better place for it.

Had to get you off that unlucky thank # SilverBar.

[AgBar]

Good. Hopefully this frankencompany will be bankrupted and the world will be a better place for it.

Yep. The royalty thing galls me. "Your farm is next to one of our customers'. Our pollen got on your crop. Therefore, you owe us money."

Had to get you off that unlucky thank # SilverBar.

Thankee. (took me a second to figure out what you meant!)

[wastrel]

I assume that if the Brazilian Supreme Court of Justice rules against Monsanto, that within a month Brazil will be discovered to have been harboring terrorists and that the U.S. will reluctantly and regretfully have to invade.

[gnome]

Brazil is a major player in soybeans, #2 after the US.

The world is quickly turning against Monsanto. There is pressure in India, that would be a big domino. And mandatory labeling in CA is a sure thing come Nov.