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Monsanto may have to repay 10 years of GM soya royalties in Brazil

scibri (2544842) writes | about 2 years ago

Biotech 0

scibri (2544842) writes "Biotech giant Monsanto is one step closer to losing billions of dollars in revenues from its genetically-modified Roundup Ready soya beans, after the Brazilian Supreme Court ruled the company must repay royalties collected over the past decade.

Since GM crops were legalized in 2005, Monsanto has charged Brazilian farmers royalties of 2% on their sales of Roundup Ready soya beans. The company also tests Brazilian soya beans that are sold as non-GM — if they turn out to be Roundup Ready, the company charges the farmers 3%. Farmers challenged this as an an unjust tax on their business.

In April a regional court ruled against Monsanto, though that ruling has been put on hold pending an appeal. The Supreme Court, meanwhile has said that whatever the final ruling is, it will apply throughout the whole country."

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