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Biotech approval delays have costs

Soybean growers say that delays in biotech trait approvals are expensive for farmers and consumers.  Iowa farmer Laura Foell is in China with growers from other soybean exporting countries to impress on China the importance of timely, science-based approvals for biotech traits.  On a conference call from China, Foell, who chairs the U.S. Soybean Export Council, said that biotech traits in soybeans are beneficial to growers and consumers alike.

“But if we would happen to have a three-year delay in getting a new approval in other countries, that could cost nearly $19 billion to both producers and consumers,” said Foell on Thursday in China.

Delays in approvals also have unforeseen costs, according to Bob Haselwood of Kansas, chairman of the United Soybean Board.

“If the tech companies run into continued delays in bringing new biotech events forward, with the cost involved in working with these biotech events, the question is how willing will they be to invest money in new events if delays continue,” said Haselwood.

The growers are meeting in China with the International Soybean Growers Alliance comprising growers from the U.S., Canada and South America.

AUDIO: Laura Foell; Bob Haselwood; Wade Cowan (24 min. MP3)