DowDuPont wins final OK for global launch of new GMO soybeans

CHICAGO (Reuters) – DowDuPont, Inc. has won the final international regulatory approval needed, from the Philippines, for a global launch of a new line of genetically engineered soybeans, the company said.

The approval means seed companies can sell the soybeans, named Enlist E3, to farmers for planting as early as this spring without worrying about taking extra steps to keep the harvests out of export markets.

Enlist E3 soy, marketed by DowDuPont's agriculture unit Corteva Agriscience, will eventually shake up the $40billion US soybean market - half of which is controlled by rival Bayer AG's Xtend brand. Developed with Iowa-based MS Technologies, Enlist E3 is the first soybean genetically modified to withstand sprays from three popular weed chemicals - 2,4-D, glyphosate and glufosinate.

US farmers and seed sellers have been waiting for the Philippines to approve imports of Enlist E3 since China, the world's top soybean buyer, cleared the product in January. The Philippines last year was the top buyer of processed US soymeal, used primarily to feed livestock.

"Obviously we're very excited about that and proceeding with plans to get seed in growers' hands," said David Thompson, marketing and sales director for Stine Seed, which is affiliated with MS Technologies.

Biotech seed makers seek approval from importers before launching new products because countries can reject shipments of unapproved varieties.

The Philippines issued new regulations for genetically modified products such as Enlist in 2016, and the process involves input from more government officials. Some applications can take years to process.