Germany’s BASF has no plans to buy global biotech seed company Monsanto Co., sources with knowledge of the situation said April 12.
Rumours that a buyout was imminent sent Monsanto’s shares up as much as four per cent while shares of BASF, the world’s largest chemical maker, fell 2.8 per cent.
The two companies are rivals as well as collaborators, most recently announcing an agreement to jointly develop dicamba-tolerant cropping systems similar to the highly successful “Roundup Ready” herbicide-tolerant genetically modified crops for which Monsanto is known.
The two companies are also collaborating on other new genetically modified crops.
Lentil trade to Europe threatened
Pulse Canada and the USA Dry Pea &Lentil Council have joined forces to increase the EU’s tolerances for glyphosate residues in imported lentils.
There is a difference between the EU’s maximum allowable level for glyphosate residue in lentils versus other crops. The EU tolerance for glyphosate in lentils of 0.1 ppm is 1/100th the level set for peas, which is 10 ppm. The USA’s MRL is eight ppm for peas, and five ppm for lentils, while Canada’s MRL is five ppm for peas and four ppm for lentils.
The issue emerged when a shipment of organic lentils from Turkey was found to exceed the EU’s tolerance.
“Europe is an important market for North American lentils and we need to ensure that there are workable solutions in place for the trade to address the differences in glyphosate tolerances,” said Gordon Bacon, CEO of Pulse Canada. He estimates that the majority of North America’s lentils will have no detectable level of glyphosate.