Earlier this month, Monsanto said it would withdraw all pending approval requests to grow new types of genetically modified crops in the European Union. Based on reports, it seems strong public opposition to the technology isn’t expected to go away. Monsanto is a company with a $54-billion market cap whose stock trades at nearly 20 times next year’s predicted earnings. What happens when the U.S. starts to behave more like Europe? What happens when major food companies stop using GM ingredients in order to avoid having to label them as such? Wall Street cares about the next quarter, or perhaps even the next year or two. None of what I’m discussing will be relevant in that time frame. But I’m thinking 10 years out or more.
See on m.theglobeandmail.com