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Monsanto Buys Western Australia Wheat Breeder

26 August 2010

AUSTRALIA – One of the world's leading agricultural biotech organisations, Monsanto, has reportedly bought part of the Western Australian Government's grain breeding company, Intergrain.

According to ABC News, a "collaborative agreement" has been signed for the handover of around 20 per cent of Intergrain's ownership to Monsanto.

Intergrain has said that it intends to remain an independent supplier of new grain varieties for farmers across all of Australia's farming states.

Peter O'Keefe, head of Monsanto in Australia, told the news provider, however, that the firm was guaranteed to buy out more of the group in the future.

"As a commercial organisation, that's certainly part of our business model. Having said that, there's very strong competition for Intergrain on the varietal front in Australia, and that will continue," he said.

Meanwhile, agribusiness firm Gavilon Group has announced that is applying for a licence to export bulk wheat from Australia, following a decision to increase its activity in the country.

TheCropSite News Desk



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