Russia Bans Monsanto's (NYSE:MON) Modified Corn
A report from last week revealed that genetically modified corn caused cancer in rats.
Russia has banned the import and sale of Monsanto's (NYSE:MON) genetically modified corn after a scientific report last week revealed that the company's Roundup Ready® genetically modified corn developed cancer in both male and female rats in lab tests. Russian consumer watchdog Rospotrebnadzor administered the alert.
The study conducted by the University of Caen in France has been met with copious amounts of criticism from both Monsanto and many specialists in the science and nutrition fields. A Monsanto statement following the published results stated that the study did not meet acceptable standards regarding scientific research and the findings were not supported by the data presented.
London-based Science Media Centre, an independent group, posted comments saying the sample size was too small and the data was incomplete. Other criticisms state that the study was poorly designed and omits crucial details.
Monsanto believes that the impact on the ban will be miniscule due to Russia being such a large exporter of grain and that the act is just a "temporary suspension" that will not yield any disastrous results. The French government has also reportedly instituted a review of the study to decide near-term whether a ban should be instituted in France as well.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter