Biotech Companies See Food Prices Boosting GM Crops

Rising food prices may result in greater acceptance of genetically modified seed in emerging markets, the Financial Times reported, citing leading seed companies. Daniel Rahier, who heads biotechnology policy at DuPont Co., said there's been a change of mood in countries such as Indonesia, where the government is encouraging companies to apply for approval of biotech seeds, and "it's a similar story in Vietnam, Cambodia and Kenya," the newspaper reported. Stefan Marcinowski, in charge of plant science and crop protection at Germany's BASF SE (BAS), told the FT rising food prices are "a wake-up call to use all available technologies." Hugh Grant, Monsanto Co. (MON)'s chief executive officer, said many agricultural areas of the world "have made significant policy shifts" in the past two years, the newspaper reported. Visit www.bloomberg.com/news/2011-03-07/biotech-companies-see-food-prices-boosting-gm-crops-ft-says.html