Monsanto to abandon new GM crop applications in Europe
Monsanto will no longer be pursuing approvals for commercial cultivation of new genetically modified crops in Europe, subject to discussion with business partners including licensees. Rather than waiting for Europe to embrace GM crops, the company has decided to focus on the conventional seeds business in the continent, "which is very strong and growing". Monsanto will invest several hundred million dollars in Europe over a decade to expand its conventional seed production and breeding. It will pursue its "highly successful" GM crop business in the rest of the world and focus on enabling imports of GM crops into the EU.