The Planet Versus Monsanto

Monsanto's first round of attackers said its seeds were evil. Now the charge is that Monsanto's seeds are too good.

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Monsanto biochemist Roy Fuchs takes fish oil pills every morning in hopes of warding off heart disease. He'd much rather get his omega-3 fatty acids in a granola bar or cup of yogurt. But it is tricky to add omega-3s to food products without adding unwanted flavors. After a while on the shelf, omega-3-enriched products can smell and taste like old fish, he says.

Fuchs hopes that the new genetically engineered soybeans Monsanto ( MON - news - people ) is working on will solve this problem. The soybeans contain two new genes to make a tasteless oil that is converted inside the body into the form of omega-3 thought to be good for the heart. In a 157-patient study presented at a cardiology conference in November, those volunteers who had high triglycerides saw their levels drop 26% after eating 15 grams of the oil daily for three months.


Monsanto needs crowd-pleasers like this to get past its image problems. In economic terms, the company is a winner. It has created many billions of dollars of value for the world with seeds genetically engineered to ward off insects or make a crop immune to herbicides: Witness the vast numbers of farmers who prefer its seeds to competing products, and the resulting $44 billion market value of the company. In its fiscal 2009 Monsanto sold $7.3 billion of seeds and seed genes, versus $4 billion for second-place DuPont ( DD - news - people ) and its Pioneer Hi-Bred unit. Monsanto, of St. Louis, netted $2.1 billion on revenue of $11.7 billion for fiscal 2009 (ended Aug. 31). Its sales have increased at an annualized 18% clip over five years; its annualized return on capital in the period has been 12%. Those accomplishments earn it the designation as FORBES' Company of the Year.Wouldn't that be a wonderful product to have for sale? Stops heart disease--and protects the environment, too. People could get their nutritional supplements without depleting fish stocks.

But economic achievement is not the same thing as public adulation. Over most of the time that Monsanto has been working to make humanity better fed, it has been the object of vicious criticism. In the first round of attacks the company was portrayed as the Satan of agriculture for daring to modify the genes in corn and soybeans. That people have been selecting plant genes for 5,000 years was no defense; Monsanto's gene-splicing threatened the world with ecological catastrophe. Genetically modified crops were the subject of legislation outlawing them and numerous protests in Europe and elsewhere in which biotech crops were ripped from the ground. In 2002 Zambia, during a famine, rejected a cargo of donated corn because it might have been tainted with the offending seeds.

Over time the protests have mellowed, and the legal impediments to GM are gradually falling. It didn't make sense for a hungry planet to reject tools to increase the productivity of farmers. Much of Europe, while still forbidding the planting of GM crops, permits the importation of foods made from them.


Original Source - http://www.forbes.com/forbes/2010/0118/americas-best-company-10-gmos-dupont-planet-versus-monsanto.html
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