ST. LOUIS, Aug. 23, 2011 /PRNewswire/ -- Bunge North America, the North American
operating arm of Bunge Limited (NYSE: BG), issued the following
statement which can be attributed to Soren
Schroder, Bunge North America
president and CEO.
"Bunge North America is aware
from press reports of Syngenta's allegations. From what we
know and from prior conversations with Syngenta, we are surprised
and disappointed that Syngenta has taken an action which could put
at risk a major export market for U.S. corn producers --
China.
Bunge is a strong proponent of agricultural biotechnology and
the benefits it offers to the entire value chain. We have
communicated to Syngenta on several occasions that Bunge looks
forward to accepting Agrisure® Viptera™ once approval from
China is secured. We
understand that Syngenta expects this will happen in early
2012.
However, until this approval occurs, we must protect the
integrity of our export supply chain by not accepting Agrisure
Viptera and other varieties that do not have major export market
approval. Our obligation to our farmer customers is to
provide access to the global marketplace and the price benefits of
that access. Syngenta's decision to commercialize Agrisure
Viptera should not foreclose our ability to sell to a major market
– China.
Bunge's decision not to accept Agrisure Viptera is consistent
with the North American Export Grain Association's (NAEGA) policy
to advocate that technology providers receive all major
international approvals for a trait prior to seed sales. The
grain export industry, which includes Bunge, notified Syngenta more
than a year ago that China is
considered a major export market.
According to the U.S. Department of Agriculture, China is currently the seventh largest
destination for U.S. corn with imports expected to grow
significantly this year."
SOURCE Bunge North America