The Australian arm of US-based biotech giant Monsanto has said it will withdraw from its trials of genetically modified canola in Australia due to continuing regulatory hurdles.
Go deeper with GlobalData
The confirmation comes just days after the company’s US parent said it was shelving its plans to commercialise GM wheat.
In Australia, the company said it would halt its canola trials this season due to state-based bans and restrictive trial conditions, reported the Australian Broadcasting Corporation.
“It would take a significant change in the regulatory environment across the states for the opportunity in canola to become attractive,” a company spokesman was quoted by ABC News as saying.
“We have a number of concerns around the moratoriums; but also around the imposition of inconsistent and restrictive conditions on conducting trials between the states; and then the delay in trial approvals, and the fact that there are different systems and different processes across each state,” he added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
