Monsanto Aims to Double Sales in Mexico in Five Years if GMOs Approved
Monsanto is aiming to double its sales in Mexico within the next five years if the commercial-scale cultivation of GMOs is approved by the country’s courts.
Mexico is one of the world’s top corn producing countries, but it has been embroiled in an extended debate over the legalization of the production of genetically modified corn. A court decision however, is expected to soon be handed down.
"Our intention is to be able to double the business from here to 2020," said Eduardo Perez, head of regulatory issues for Monsanto in northern Latin America.
In Mexico, corn that has been technologically altered accounts for 70% of the company’s sales.
Global sales for the agricultural giant topped $15 billion in fiscal year 2015. Of this total, $400 million in sales came from its Mexican business.