July 4, 2018 / 2:12 PM / 16 days ago

Brazil soy farmers in key state expect to pay $204 million in Intacta GMO royalties

SAO PAULO (Reuters) - Brazilian soy growers suing Monsanto over a patent’s validity said they expect the Bayer unit to collect 800 million reais ($204 million) in royalties related to its Intacta RR2 Pro genetically modified soy seed technology in the 2017/18 crop cycle.

The Mato Grosso state branch of grain growers’ association Aprosoja praised a court decision ordering Monsanto to deposit royalties related to the technology in an escrow account until a federal court issues a final ruling on the matter. Intacta’s patent protection extends through October 2022.

Reporting by Ana Mano; Editing by Christian Plumb

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