United States agrochemicals firm Monsanto has terminated its plans to grow new types of genetically modified (GM) crops in the European Union over lack of prospects for cultivation in the region.
The company said that it will drop all the requests for growing new genetically modified foods such maize, soybean and sugar beet in the European Union.
Monsanto noted that it will focus on growing its conventional seeds business in Europe. It also plans to seek EU approval to import its genetically modified crop varieties from the US and South America into Europe.
Monsanto's GM crops and agro-chemicals are in widely used in the US and in other parts of the world. However, in Europe, there is widespread concern about the use of GM food products, with environmental groups and experts fearing that their use might have long-term affect on health.
Environmental groups welcomed Monsanto's announcement stating that Monsanto's retreat could finally create the space for European farming to concentrate on modern practices and technologies that offer real advances for food production and rural communities.
The EU approved only two GM products to be grown in the 28-member bloc - Monsanto's MON 810 maize and German conglomerate BASF's Amflora potato. While the EU approved cultivation of MON 810 in 1998 for 10 years, it did extend the permission after 2007.
