Monsanto has agreed to waive two years of technology fees on its first-generation Roundup Ready soybeans for Brazilian farmers.
In a statement released by Monsanto today, growers who agree to waive all potential legal claims for payments previously made for Roundup Ready products will be released from paying the tech fee for this and next growing season. Farmers who elect not to participate will continue to pay royalties on the technology.
Rodrigo Santos, Monsanto Brazil president says, “The agreement reflects the support of key grower associations and provides a mechanism to allow all parties to focus on the long-term solutions that will support the Brazilian agriculture industry and its growing demands.”
According to Monsanto, the agreement is an important step towards the commercial introduction of next-generation products.