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Monsanto drops technology use agreement

(June 18, 2001 -- CropChoice news) -- Monsanto will eliminate its technology use fees on transgenic corn and soybean seeds in time for the 2002 growing season. Instead, seed companies licensed to sell Bt corn, and Roundup Ready soybeans and corn will pay a royalty fee to Monsanto.

Instead of separately paying a seed company for the seed and Monsanto for the privilege of using the technology, farmers will make one payment to a seed company.

“This change is in line with grower requests to move away from our previous technology fee structure and seed company requests to offer a more simplified pricing structure for their customers,” said Jim Zimmer, U.S. director of technology for Monsanto Company.

Source: Monsanto press release