Popular distrust of genetically-modified foodstuffs and resulting official reticence to approve major food crops are turning the Chinese biotech industry’s eyes offshore as Beijing-based Origin Agritech makes plans to enter the US market in 2016, Reuters reported, citing a presentation published to the Securities and Exchange Commission’s website. US-listed Origin has invested more than RMB300 million (US$46.9 million) in biotech since 2005, but its most advanced product is a corn with two special characteristics – “traits” – that resist pests. Top US seed firm Monsanto already markets a modified corn that combines as many as eight traits to combat pests.
Categories