Source: Ukragroconsult (Ukraine)
An Argentinian crop developer, the first in the US to receive approval to grow genetically modified wheat, said it will take years for the technology to reach the market.
Nevertheless, Bioceres Crop Solutions SA CEO Federico Trucco hopes the approval will help overcome global obstacles.
“It’s getting more real by the day,” Trucco said in an interview as the company announced its quarterly results, boosted by sales of a drought-tolerant wheat variety called HB4. “There is an immediate impact in terms of greater confidence. It’s a more sophisticated market saying ‘we need this technology’.”
Bioceres aims to overcome deep-rooted skepticism about GMO wheat. Farmers have been growing genetically modified soy and corn crops for decades, mostly for animal feed or biofuel. However, direct human consumption of these crops has provoked fierce opposition from consumer groups, farmers and environmentalists. Some companies, including Monsanto Co. before its merger with Bayer AG, have changed course.
Now a green light in the U.S., the largest exporter, means Bioceres is approved for cultivation outside South America. Australia, another major global supplier, is also conducting field trials.
According to Trucco, it will take two to three years to adapt the genetics and expand the acreage to produce enough seed for sale in the US. That will give Bioceres time to convince importers, especially Asian buyers of U.S. wheat such as Japan and South Korea, he said. HB4 remains banned in Asia, North Africa and the Middle East.
In Argentina, about 20 grain mills are buying up HB4 as Bioceres works with so-called seed multipliers to expand acreage that has retained its identity. Farmers are growing hundreds of thousands of hectares of HB4 this season, totaling about 6 million hectares. Trucco says he hopes more supplies will go to his main customer, Brazil.
“I’m not ready to scream ‘target’ in anyone’s face,” Trucco said. “One thing is what the regulators say, another is what the consumers prefer. We have come a considerable distance.”