- Condensed by Lynda Kiernan-Stone, Unconventional Ag Media
Brazilian Court Rules Bayer to Return $252M in GM Soy Royalties
On February 13, Brazil’s Supreme Court ruled that Germany’s Bayer is to return to Brazil’s soybean farmers the royalties charged for GM soybean seeds. The ruling, handed down by Supreme Court Justice Nunes Marques, related to a GM technology strain commercially known as Intacta RR2 Pro that was created by Monsanto and later acquired by Bayer.
This is the most recent development in the long-term opposition by the country’s farmers against the company, which has grown into a lawsuit involving soy producer associations in 10 Brazilian states.
As per the ruling, Bayer will now have to deposit 1.3 billion reais, or US$252 million, in an escrow account to return royalties paid by farmers going back to 2018. Bayer has stated that it is analyzing the ruling, and will determine its next steps, noting it will comply with the directive.
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