S&W Seed (SANW) to Incorporate Roundup Ready Trait in Certain Alfalfa Varieites (MON)
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S&W Seed Company (Nasdaq: SANW) has signed agreements with Monsanto (NYSE: MON) and Forage Genetics International, LLC. (FGI) that enables the company to produce and sell seed of approved varieties containing Monsanto's Roundup Ready trait. FGI has also agreed to incorporate the Roundup Ready trait into specific S&W-developed varieties previously selected for high yield and salt tolerance.
Using classical plant breeding methods, S&W has worked hard for 30 years to become a leader in developing high yielding, non-dormant, salt tolerant varieties of alfalfa. Adoption of biotechnology has been slower to occur in Europe and other areas compared to the United States, and most of S&W's existing export customers require verification that alfalfa seed does not have biotech traits. Demand for S&W's proprietary non-biotech varieties continues to grow at a strong pace in warm climate zones where non-dormant alfalfa is the market standard. Accordingly, non-biotech varieties of alfalfa seed will continue to be a primary focus for S&W in international markets where biotech varieties have not been approved. S&W will also continue to ensure its classically bred varieties are grown under strict guidelines requiring isolation and quality control in processing.
In order to meet the needs of its many domestic customers that want Roundup Ready® alfalfa, S&W has been working in collaboration with FGI to pursue the development of S&W varieties that incorporate Monsanto and FGI's advanced traits, such as the Roundup Ready® trait, into S&W's own seed varieties. Any biotech varieties ultimately produced by S&W will be targeted for sale to the U.S. domestic customers, at least initially.
Using classical plant breeding methods, S&W has worked hard for 30 years to become a leader in developing high yielding, non-dormant, salt tolerant varieties of alfalfa. Adoption of biotechnology has been slower to occur in Europe and other areas compared to the United States, and most of S&W's existing export customers require verification that alfalfa seed does not have biotech traits. Demand for S&W's proprietary non-biotech varieties continues to grow at a strong pace in warm climate zones where non-dormant alfalfa is the market standard. Accordingly, non-biotech varieties of alfalfa seed will continue to be a primary focus for S&W in international markets where biotech varieties have not been approved. S&W will also continue to ensure its classically bred varieties are grown under strict guidelines requiring isolation and quality control in processing.
In order to meet the needs of its many domestic customers that want Roundup Ready® alfalfa, S&W has been working in collaboration with FGI to pursue the development of S&W varieties that incorporate Monsanto and FGI's advanced traits, such as the Roundup Ready® trait, into S&W's own seed varieties. Any biotech varieties ultimately produced by S&W will be targeted for sale to the U.S. domestic customers, at least initially.
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