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Monsanto, Argentina, agree to royalties collection pact

MonsantoMonsanto and Argentina have announced an agreement regarding the collection of royalties of genetically modified soybeans in Argentina. The agreement ends years of dispute between the world’s largest seed company and the third-largest grower of soybeans, according to Bloomberg News. Under the agreement, Argentina will have full control of seed commercialization to ensure private companies like Monsanto will be able to collect royalties’ payments. The agreement represents a cultural shift for Argentine farmers, who have generally avoided paying royalties to seed companies by using GMO seeds saved from previous harvests or purchased from non-registered suppliers. The agreement should help secure revenue for Monsanto from its third-largest market, after the U.S. and Brazil.

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