Brazil approves planting of GM soybeans

BRASILIA, Brazil, September 24, 2003 -- CropChoice news -- Reuters: Brazil's Vice President Jose Alencar has approved the planting of genetically modified soybeans in Brazil, a spokeswoman said on Wednesday.

"He approved the planting of transgenic soy," the spokeswoman said.

Brazil's government is expected to now issue an official decree, which apparently opens the way for transgenic seed producer Monsanto Co. of the United States to collect royalties from farmers for the planting of transgenic soy.

Brazil is the world's No.2 soybean producer and exporter after the United States and accounts for over a quarter of global soy supply.

But unlike the United States and Argentina, where genetically modified crops are widely planted, Brazil has until now officially banned GM crops and foods.