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Monsanto applies to sell Brazilian GM soybean

Monsanto has applied for commercial approval in Brazil of the first genetically modified product it has developed specifically for use in a market outside the US. It completed the regulatory submission for the sale of its GM insect-resistant and glyphosate-tolerant Roundup Ready 2 Yield soybeans this month. It would become the first GM insect-resistant soybean product, the company says. Monsanto expects to market the product in Brazil in the early to middle of the next decade, and achieve annual sales of $300 million-$500 million by 2020.

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