Argentina's Bioceres to seek Australia approval to plant its GMO wheat next year, CEO says

Bioceres Crop Solutions

23/06/2022 18:37

By Jorgelina   do Rosario
    LONDON, June 23 (Reuters) - Argentina's Bioceres Crop
Solutions  BIOX.BA  plans to carry out field tests of its
genetically modified drought resistant wheat in Australia and
seek planting approvals next year, Chief Executive Federico
Trucco told Reuters.
    The company is counting on consumers warming to eating wheat
that has been genetically modified (GMO), as food prices soar
due to the Ukraine war and more extreme weather patterns
increase the risk of global famines.
    Trucco called Russia's invasion of major wheat producer
Ukraine a "reality check" for global food supplies, helping make
the case for GMO wheat that has faced push-back from farmers and
consumers. Bioceres is leading the push to develop it.
    "This has created a distinct situation to what we had before
the conflict and puts wheat right at the center," he said in an
interview in London.
    Australia approved consumption of food derived from
Bioceres' GMO wheat in May, but only Argentina has authorized
planting of the company's HB4 wheat. Brazil is test planting HB4
wheat in the dry "Cerrado" savanna region.  urn:newsml:reuters.com:*:nL1N2XQ132
    "The next phase in the internationalization of GMO wheat is
Australia," Trucco said, adding that Bioceres planned to start
the formal regulatory process seeking planting approval next
year with the aiming of getting the green light in 2024.
    "The idea is to start with field trials next season. The
seeds are now being imported. Therefore, the regulatory process
begins in the next wheat campaign, which is next year."
    Bioceres is also in talks to take a majority stake in a new
venture in Australia with the local arm of U.S.-listed S&W Seed
 SANW.O  that would incorporate that firm's wheat business.
Trucco said the deal could be announced in the third quarter of
2022.
    Australia's Department of Health said there was no timeline
for a decision on approving Bioceres' HB4 wheat for planting as
it had not yet formally received the application.
    Trucco said he hoped also to get a green light in the United
States, where the firm has requested planting and consumption
approvals from the Agriculture Department (USDA) and the Food
and Drug Administration. USDA did not respond to a request for
comment. The FDA declined to comment.   
    Trucco said the HB4 seeds would be most relevant for the
center of the United States, where drought has decimated the
winter wheat crop this season.  urn:newsml:reuters.com:*:nL2N2X930N
    The other major global commodity crops, corn and soybeans,
are mostly genetically modified but consumer opposition to wheat
has lingered. Seed company Monsanto shelved plans to develop
genetically engineered wheat in the United States in 2004. 
    Trucco said that a natural future step for the company would
be to target approvals in Russia and Ukraine for its GMO wheat,
but for now the two major producers of the grain were a 'no go'
area due to the conflict.
    "HB4 is a good way for Ukraine to level the playing field
against big players like Argentina, U.S. and Australia, but now
we are talking about long term," he said.

 (Reporting by Jorgelina do Rosario; Additional reporting by
John Mair in Sydney and Caroline Stauffer in Chicago; Editing by
Carolina Stauffer, Adam Jourdan and Susan Fenton)
 ((jorgelina.dorosario@thomsonreuters.com;))