Monsanto Suspends Royalty Collections for Soybeans in Brazil
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Monsanto Co., the world’s biggest seed company, suspended collection of royalties for its Roundup Ready soybeans in Brazil while it appeals a state court ruling on intellectual property rights.
An appellate court in Mato Grosso yesterday upheld an injunction requested by a group of growers to stop fee collections in the state before a trial challenging patents for the genetically modified beans. Monsanto will temporarily suspend the collections nationwide to “maintain operational consistency,” the St. Louis-based company said today on its website.