The agricultural solutions provider, Monsanto Company (MON) seems determined to dissociate itself from the allegations levelled against the company’s technology. After an alleged presence of Roundup Ready trait in wheat grown in the district of Oregon, the company has been making every attempt possible to help the U.S. Department of Agriculture (USDA).
Recently, Monsanto has supplied its validating test technique to the USDA to gauge the presence of Roundup Ready in the field. On request, the same technique has been provided to authorities in Japan, Korea, Taiwan and the European Union.
Per Monsanto, the current techniques used to test the presence of genetically modified organisms like dip stick tests, PCR and strip tests can sometimes deliver ambiguous results. However, the technology developed by Monsanto enables the tests to deliver accurate results.
Monsanto has taken this step not only to deliver accurate results but also to safeguard U.S. exports. Monsanto still believes it highly unlikely that after a span of eight years and approximately 500 million acres of wheat production, the Roundup Ready trait will be observed in the farm land.
The company also reiterated that, in case the Roundup Technology trait, technically known as the MON71800 event, is found to be present in the field, the same should not have any food, feed or environmental safety concerns. The glyphosate-tolerance trait tested initially in wheat production by the company has been in use for products like corn and soy, among many others.
The tests are still actively taking place in various regions, with no results confirmed yet. Although Monsanto has not been provided with a sample of the alleged wheat trait, the company has contacted the USDA and is willing to provide all cooperation required.
Monsanto currently carries a Zacks Rank #3 (Hold). Other stocks worth a look in the chemicals industry are American Vanguard Corp. (AVD) carrying a Zacks Rank #1 (Strong Buy), while, Cosan Ltd. (CZZ) and OM Group Inc. (OMG); both carry a Zacks Rank #2 (Buy).
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