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Monsanto Company
and
leading grower organizations in Brazil announced today that they have reached
an agreement that will support the introduction of next-generation products
like INTACTA RR2 PRO™ soybeans.
The agreement represents an important next step towards the commercial
introduction of INTACTA RR2 PRO™ soybeans in the country. It demonstrates
strong support by the Agriculture and Livestock Confederation of Brazil (CNA),
a leading national grower organization, as well as ten state agriculture
federations in the soybean-production regions of Brazil. The agreement
recognizes the important role of technology providers that invest in new
technologies for farmers as well as for a value collection system that ensures
technology providers are duly compensated for technology each time it is used
on farm.
"Importantly, this agreement reflects the support of key grower associations
and provides a mechanism to allow all parties to focus on the long-term
solutions that will support the Brazilian agriculture industry and its growing
demands," said Rodrigo Santos, Monsanto Brazil president.
Under the agreement, participating Brazilian farmers will secure a new license
that will allow them to purchase soybeans containing the new INTACTA RR2 PRO™
technology, expected to be available in the 2013-2014 growing season. The
agreement also underscores the grower associations' support for continuing a
royalty collection approach, which ensures that growers pay royalties each
time they use the technology.
The agreement also provides clarity on first-generation Roundup Ready soybeans
for participating farmers. Those farmers will be released from payment of
technology royalty fees for first-generation Roundup Ready soybeans for this
and next season, while waiving all potential legal claims for payments
previously made for this first-generation technology. Farmers who elect to
not participate will continue to pay royalties on that technology through the
term of Monsanto's intellectual property rights in Brazil that cover the
first-generation Roundup Ready soybeans.
Monsanto had previously excluded the contribution related to the company's
first-generation Roundup Ready soybean business in Brazil from its earnings
per share (EPS) and free cash flow guidance, reflecting an estimated
historical annual range of $0.20 to $0.25.
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