(Photo: An agronomist inspects an HB4 soybean plot in the US. Courtesy Martin Mariani Ventura)
Buenos Aires, August 8th. “: We are advising the public of our determination that the new plant variety HB4 soybean designated as event
IND–00410–5, which has been genetically engineered for increased yield and resistance to the herbicide glufosinate, is no longer considered a
regulated article under our regulations governing the introduction of certain genetically engineered organisms. Our determination is based on our
evaluation of data submitted by Verdeca LLC in its petition for a determination of nonregulated status, our analysis of available scientific data, and comments received from the public in response to our previous notices announcing the availability of the petition for nonregulated status and its associated environmental assessment and plant pest risk assessment. This notice also announces the availability of our written determination and finding of no significant impact”, the Plant Animal and Health Inspection Services stated in the Federal Register last August 7th.
HB4 soybean is the first trait approved in the US, coming from a South American country. The technology was initially developed by Raquel Chan from the Litoral National University (Argentina) and then completed in association with Bioceres and INDEAR. HB4 provides drought and salinity tolerance, and glufosinate resistance, to the soybean crops.
The release coincides with the higher price of the Bioceres stock in the NYSE ($BIOX). In the last days stocks were sold around 6 dollars, 50% up from May value, were stocks had touch US$4. Meanwhile, the Arcadia Bioscience ticker in the Nasdaq (RKDA) is also rising.
According to eFarmNewsAr sources, the US legal framework allows to commercialize the technology once approved by the regulatory authorities. This not the case of Argentina, where legal framework requires that importers countries also authorize the technology.
The HB4 technology will be commercialize by Verdeca, a JV between Bioceres and Arcadia Biosciences. The timming to license the technology to other seed companies will depend on its marketing strategy.
Meanwhile, in Argentina (where the technology is already released) the company is waiting for the Chinese approval to commercialize it to farmers.