The decision of the world’s largest importer of this product responds to the request submitted by Bioceres in October 2016, after the company obtained approval in Argentina in 2015, but its marketing was subject to authorization in China, which was confirmed on Friday.
The 24.5% rise in Bioceres shares represents the biggest daily gain since the company went public on Wall Street.
The People’s Republic of China approved transgenic soybeans with drought-tolerant HB4 technology developed by the Argentine company Bioceres in conjunction with Conicet and the Universidad Nacional del Litoral (UNL), upon closing an analysis process that began 6 years ago, reported today the company in a statement.
In this way, The Asian giant, the largest consumer and buyer of soybeans worldwide, will be able to import and market the grain, but not plant it because they still do not allow the implantation of genetically modified organisms (GMO, for its acronym in English).
The procedure for its approval was presented on October 21, 2016 and it took six years for China to give the go-ahead, which makes HB4 soybeans the first Argentine transgenic development that has such approval, the company said.
“Drought-tolerant soybean was approved in 2015 by Argentina and then also by the countries with the largest world production of this crop, including the United States (August 2019), Brazil (May 2019), Paraguay (2019) and Canada (2021). These countries represent approximately 85% of the global production of the oilseed,” the company recalled.
“Today is a huge day for Argentine science. China has approved drought-tolerant HB4 soybeans. The implications are profound. It means that the world recognizes once again that Argentina has developed a technology that no one has done until now,” Bioceres said.
Source: Ambito
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