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Soybean Industry White Paper on Cost of Slow Biotech Approvals

Soybean Industry White Paper on Cost of Slow Biotech Approvals



Last Friday at 11:08 AM in Agriculture
Soybean Industry White Paper on Cost of Slow Biotech Approvals

Photo: WNAX







A new white paper shows the high cost globally of delays in biotech soybean traits. U.S. and South American soybean farmers teamed up to roll out this data to Chinese government officials, while in China this week to discuss their slow biotech approval process.

U.S. Soybean Export Council Chair and Shaller, Iowa farmer Laura Foells says their regulatory delays drive up the cost for weed control as farmers need new biotech events to help with resistance.

American Soybean Association President Wade Cowan says not having new technology in the marketplace actually costs the consumer more than the producer.

United Soybean Board Chair Bob Haselwood says unfortunately, in their meetings with Chinese officials they were unable to confirm a quicker timeline on approvals.

To overcome consumer resistance in China, U.S. and South American growers have launched a social media campaign highlighting the benefits of biotechnology. The white paper shows globally biotech crops have benefitted the consumer $15 billion from 1996 to 2009.
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