Friday, January 28, 2011

Monsanto (NYSE:MON) Gets Go Ahead for GMO Alfalfa

The USDA gave farmers the go ahead to plant GMO alfalfa developed by Monsanto (NYSE:MON).

Also included in the decision is the allowance to plant alfalfa with no restrictions; something opponents of GMO though would be included in the decision, if the planting was allowed to go forward.

Agriculture Secretary Tom Vilsack said, "After conducting a thorough and transparent examination of alfalfa ... APHIS has determined that Roundup Ready alfalfa is as safe as traditionally bred alfalfa."

APHIS refers to Animal and Plant Health Inspection Service, an arm of the USDA, and which made the decision.

While saying he understood the concerns of opponents, Vilsack added farmers in the U.S. need to be allowed to have a choice in whether or not they want to plant GMO alfalfa or other varieties.

Vilsack concluded, "I'm trying to bring people together. This set of actions, it seems to me, provides opportunities for preservation of choice in agriculture, creates a set of forms for building trusting relationships that could lead us to better policy in the future,"

Monsanto was trading at $72.36, falling $1.32, or 1.79 percent, as of 11:02 AM EST.

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