Argentina's Bioceres says HB4 wheat launch in US to take at least two years (updated)

Bioceres Crop Solutions

10/09/2024 16:11

(Adds details on trade considerations)
       BUENOS AIRES, Sept 10 (Reuters) - The head of Argentina
biotech firm Bioceres  BIOX.O  said on Tuesday it will take at
least two years for the firm to start marketing its genetically
modified wheat variety HB4 to buyers in the United States,
following a U.S. government approval.
    Last month, the U.S. Department of Agriculture approved the
cultivation of HB4 wheat, which has higher resistance to
drought, following approvals from Argentina and Brazil.
    Speaking on a company earnings call, Bioceres CEO Federico
Trucco said that before the launch of U.S. sales, HB4 wheat must
be developed with wheat genetics used in the United States and
approved by countries that import U.S. wheat.
        "We're already collaborating with some (U.S.) wheat
players, in particular the Colorado Wheat Research Foundation,
with which we are developing seven types, focusing on hard red
wheat for both winter and spring," he said.
  
        "Whether it takes another year or not depends on other
elements involving trade implications particularly for U.S.
exports," said Trucco, emphasizing that approval by key
importing countries of U.S. wheat was a condition for commercial
launch.
  
        Bioceres is working with the U.S. Wheat Associates and
the National Association of Wheat Growers, two U.S. farmer
groups that require that new varieties like HB4 wheat win
approval from U.S. export markets prior to their use.
  
        Major U.S. wheat importers such as Mexico, the
Philippines and Japan, have yet to approve HB4 wheat developed
by Bioceres.
  

 (Reporting by Maximilian Heath; Writing by Sarah Morland;
Editing by David Alire Garcia)
 ((sarah.morland@thomsonreuters.com;))