Magazine article New Internationalist

Monsanto. Coming to a Field near You?

Magazine article New Internationalist

Monsanto. Coming to a Field near You?

Article excerpt

As the conflict in Ukraine erupts, subsides, erupts, subsides, there seems to be one entity that cannot lose.

Biotech-giant Monsanto has an office in Ukraine. In 2013 a proposed $17-billion IMF loan to Ukraine would, as a condition, have opened up the country to genetically modified crops. But then-president Viktor Yanukovych rejected the European Union agreement linked to the loan, deciding to go with a Russian deal instead. Yanukov ych didn't last long - ousted in February 2014 - and the country descended into conflict.

A set-back for Monsanto? It seems not. The company is still pressing ahead with a $140-million non-GM corn seed factory in western Ukraine. And if the region sinks into all-out war, that is good for Monsanto too, says trader and investment analyst Brian Kelly. Conflict will constrict the wheat supply from 'breadbasket' Ukraine, forcing a big price hike. …

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