UPDATE 2-EU approves Monsanto biotech soybean for import

(Adds Commission quotes, background)

By Jeremy Smith

BRUSSELS, Dec 4 (Reuters) - The European Union has authorised imports of a genetically modified (GM) soybean type for sale across its 27 national markets for the next 10 years, the European Commission said on Thursday.

Developed and marketed by Monsanto (MON.N), the soybean is destined to be imported for use in food and animal feed, not for growing. It is a second-generation GM product known by its code number MON 89788 and commercially as Roundup RReady2Yield.

The soybean is designed to resist glyphosate Roundup Ready herbicides and produce increased yields for farmers.

EU law allows for rubberstamp GMO approvals when ministers cannot, after a certain period, secure a consensus agreement under a complex weighted voting system -- a so-called qualified majority -- either to approve or reject the company application.

Since 2004, the Brussels-based European Commission has approved a string of GM products, nearly all maize, in this way, outraging green groups. But the pace of GMO approvals has still been very slow, to the frustration of the biotech industry.

"MON 89788 soybean underwent the full authorisation procedure set out in the EU legislation," the Commission said.

"The authorisation is valid for 10 years, and any products produced from this GM soybean will be subject to the EU's strict labelling and traceability rules," it said in a statement.

Europe's livestock and feed manufacturing industries have a keen interest in the EU authorising more soybean imports since they depend heavily on shipments of soy products -- beans, meal -- as a source of protein-rich and high-quality feed.

EU countries produce a minimal amount of soybeans in terms of overall EU consumption, so imports are crucial. Soybean meal is the primary source of protein for the EU animal feed market, representing more than 60 percent of vegetable protein.

In September, the Commission issued a similar 10-year import approval for a GM herbicide-tolerant soybean developed by Bayer CropScience BAYG.DE, known as A2704-12, also for use in food and animal feed. (Reporting by Jeremy Smith; editing by Sue Thomas)