MEXICO CITY Oct 27 Agricultural giant Monsanto
hopes to double its sales in Mexico over the next five years,
depending in part on whether permits for the cultivation of
commercial-scale genetically modified corn are approved in the
country, a company official said on Tuesday.
Mexico, one of the biggest corn producers in the world, is
in the midst of a fierce, longstanding debate about whether to
allow the cultivation of genetically modified corn. A final
decision could soon be resolved in the courts.
U.S.-based Monsanto, like other large agricultural
biotechnology firms, wants to sell genetically modified seeds in
Mexico because it says they help farmers greatly increase the
yields of their crops and enable them to use fewer pesticides.
"Our intention is to be able to double the business from
here to 2020," Eduardo Perez, head of regulatory issues for
Monsanto in northern Latin America.
Monsanto's global sales in fiscal year 2015 reached $15
billion dollars, including $400 million in Mexican sales.
In Mexico, 70 percent of Monsanto's sales are comprised of
corn seeds that have been technologically altered.
(Reporting by Adriana Barrera and Noe Torres; Writing by Joanna
Zuckerman Bernstein; Editing by Michael Perry)