February 21, 2004

St Louis Business Journal via Agnet Feb. 23/04

Argentina's government plans, according to according to published reports cited in this story, to create a royalties fund to help seed companies like Monsanto recoup their investments in biotech soy and wheat technologies threatened by the black market.

The government expects to levy a tax on soybean and wheat sales to generate about US$34 million a year for the fund, the reports said.

Last month, Monsanto said it stopped selling genetically modified soybean seeds in Argentina because the black market is keeping it from making money.