Monsanto sees record GM canola sales in Australia
Australian farmers have purchased a record 855 tonnes of Monsanto's genetically modified glyphosate-tolerant Roundup Ready canola seed this season, representing a 55% increase on last year, the company says. As overall plantings of canola are expected to rise only slightly this year, the increased purchases will lead to a big jump in market share, Monsanto points out. It attributes the gains to new high-performing varieties, diminishing premiums for non-GM canola and growing market acceptance for GM canola. Sales in Western Australia amounted to 639 tonnes (+53%), with farmers in Victoria purchasing 91 tonnes (+72%) and New South Wales 125 tonnes (+59%). The rapid adoption sends "a very clear signal" that there is "solid demand for GM canola in domestic and international markets", says Monsanto Australia managing director Daniel Kruithoff.