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Biotech / Medical : Monsanto Co. -- Ignore unavailable to you. Want to Upgrade?


To: Anthony Wong who wrote (2270)7/9/1999 4:42:00 PM
From: Anthony Wong  Read Replies (1) | Respond to of 2539
 
Monsanto Co. Reiterated 'Outperform' at Morgan Stanley DW

Bloomberg News
July 9, 1999, 8:23 a.m. ET

Princeton, New Jersey, July 9 (Bloomberg Data) -- Monsanto Co. (MTC US)
was reiterated ''outperform'' by analyst Mark Wiltamuth at Morgan Stanley Dean
Witter.



To: Anthony Wong who wrote (2270)7/9/1999 5:53:00 PM
From: Dan Spillane  Read Replies (1) | Respond to of 2539
 
Well, here's the original report, with updates; note the long list of independent scientists. I have studied the tables as well, and it is clear that in some regions there are big benefits...in other regions, things are about equal.

United States Department of Agriculture, Economic Research Service
07 July 1999

USDA Report Cites Pesticide Reductions And Yield Increases Associated With Biotech Crops

A June 25, 1999 report from the Economic Research Service (ERS) of the U.S. Department of Agriculture reports that use of certain crops improved through biotechnology is associated with "significantly higher yields," "significantly reduced herbicide treatments," and "fewer insecticide treatments for target pests."

ERS examined data to look at the extent of adoption of genetically engineered cotton, corn, and soybeans. The analysis also included a comparison of yields and pesticide use for adopters and nonadopters of the technology.

The ERS analyses of the data noted the following:

Fewer insecticide treatments for target pests were required for Bt corn and cotton.

In 1997, herbicide-tolerant technology significantly reduced herbicide treatments for soybeans and, to a lesser extent, for cotton.

Use of Bt cotton and Bt corn is associated with significantly higher yields in most years for some regions.

Herbicide tolerance in soybeans is associated with significantly higher yields in some regions in 1997.

Adoption of genetically engineered technology on soybeans, cotton, and corn has increased dramatically since introduction in the mid-1990's, encompassing 20-44 percent of acreage planted in 1998.
Source: www.econ.ag.gov/whatsnew/issues/biotech/
Contact: Dr. Katherine Smith, ERS (202) 694-5500

This study confirms industry and other independent studies that demonstrate Roundup Ready herbicide-tolerant and Bt insect- protected crops significantly reduced chemical herbicide and insecticide use:

The introduction of Bt Cotton has reduced the use of over 2 million pounds of chemical insecticides in the U.S. Nearly 1 million gallons of chemical insecticides eliminated in the U.S. during first three years of commercial availability of this improved crop (1996-1998). (1)

The introduction of Bt Corn has resulted in a reduced chemical use on as much as 15 million acres in 1998. A report by an Iowa State professor indicates that 1.2 million pounds of insecticide would be reduced if 80 percent of corn acres were planted with Bt. (2)

The introduction of Bt and virus resistant Potatoes have significantly reduced chemical use (an average of 80%) on more than 55,000 acres in 1998 by as much as 750,000 pounds. (This includes reductions of both insecticide and fungicide). (3)

The introduction of Roundup Ready crops has shown reductions of as much as 30 percent or more in total herbicide used in soy and corn crops. (4)
The Wall Street Journal recently noted the impact these crops are having on the traditional chemical industry's profits and viability (In New World of Tough Plants, Pesticide Sales Soften Biotech Oriented Monsanto Thrives, but American Home May Quit Field, Wall Street Journal, 6/16/99). In fact, BASF reported that the pesticide industry was losing some $200 to $300 million a year since the introduction of biotech crops (Biotechnology Cuts Into Profit Margins, Says BASF, 01/14/99, Manitoba Cooperator ).

o0o
Notes for editors:

Some individuals have interpreted the Economic Research Service data incorrectly to suggest conclusions opposite of those drawn by the ERS published analysis. ERS concludes a decrease in pesticide applications and an increase in yields associated with biotechnology improved crops. Nowhere does the ERS data or analysis reflect any increase in pesticide use or decrease in yield associated with biotechnology improved crops.

ERS tables reflect pesticide "application" frequency as measured by active ingredients applied per acre times the number of repeat applications. This is not a measurement of volume.

ERS tables include applications for "non-target pests" which are unrelated to reductions associated with "target pest" applications reduced or eliminated by use of biotechnology improved crops.
Sources

(1) Study by the National Center for Food and Agricultural Policy
(2) Grower surveys by Marlin Rice, PhD, Professor of entomology, Iowa State University and pesticide reduction Study by Richard Fawcett, Phd, former professor of agronomy at Iowa State University
(3) NatureMark report, May 1999
(4) Studies by C. Ford Runge, Ph.D.,professor of applied economics and law at the University of Minnesota and Richard S. Fawcett, Ph.D., former professor of agronomy at Iowa State University

Independent Expert Resources on Bt and pesticide issues:

Leonard Gianessi
National Center for Food and Agricultural Policy
1616 P Street, NW Washington, DC 20036
(202) 328-5048

Marlin Rice, PhD
Professor of entomology
Iowa State University
Ames, IO 50011
515-294-7400

Kevin Steffey / Michael Gray
Dept of Crop Science
University of Illinois
Urbana, IL
217-333-6652
Web site: www.ag.uiuc.edu/cespubs/pest/

John Foster, PhD
University of Nebraska
Lincoln, NE
402-472-8686

John Wedberg, PhD
Dept of Entomology
University of Wisconsin
Madison, WI
608-262-1696

Galen Dively, PhD
University of Maryland
Professor of Entomology
4112 Plant Science Building
College Park, MD 20742
301-441-1088

John J. Obrycki, PhD
515-294-8622
Iowa State University
7 Insectory Drive
Ames, IA 50011

Nina Fedoroff, PhD
(814) 863-4576
Willaman Professor of Life Sciences
University of Pennsylvania

Dr. Warren Stevens, PhD
(314)577-5100
Missouri Botanical Garden
4344 Shaw Blvd, St Louis, MO 63110-2291

Riley Foster, PhD
(217)367-5303
Plant Pesticide Specialist
University of Illinois

Arthur Shapiro, PhD
Professor of entomology, ecology and evolution UC Davis
530-752-2176

David Gibo, Phd
Monarch Specialist
University of Toronto
905-828-3890

Terry Franel, senior economist
(202) 484-3600
American Farm Bureau
600 Maryland Ave., S.W. Suite 800
Washington, D.C. 20024

Jeffrey Barach
202/639-5900
National Food Processors Association 1350 I Street, NW Suite 300
Washington, DC 20005

Dave Schmidt, Vice President
(202) 296-6540
International Food Information Council 1100 Connecticut Avenue N.W., Suite 430
Washington, DC

Val Giddings, Vice President
BIOtechnology Industry Organization
(202)776-0616
Washington, DC

Scott McFarland, Vice President
(314) 275-9915
National Corn Growers Association
St. Louis, MO

Sarah Hake, PhD
(415)868-0921
Director, Plant Gene Expression Center
US Department of Agriculture Albany California

Copyright 1999 United States Department of Agriculture, Economic Research