Argentina's Bioceres makes world's first sales of genetically modified wheat seeds

By Marcelo Teixeira

NEW YORK, May 16 (Reuters) - Bioceres Crop Solutions has begun sales of genetically modified (GM) wheat seeds in Argentina, the first time the technology has been commercially available to farmers anywhere in the world, CEO Federico Trucco said on Wednesday.

After years of tests followed by planting under pilot agreements between Bioceres and a small number of farmers, the company has started distributing seeds to agricultural input retail companies in the South American country, Trucco told Reuters on the sidelines of the BMO Global Farm to Market conference in New York.

"Hopefully we can have it available in Brazil as well, in one or two seasons," Trucco said.

Genetic modification involves altering a plant's makeup by transferring DNA from one organism to another and is common in crops such as corn. Some consumer groups oppose genetic modification of wheat over concerns about human health since it is a widely used ingredient in bread and pasta.

Trucco said that with more approvals from governments and industry groups, GM wheat is becoming more accepted.

Bioceres developed HB4 GM wheat to resist drought, a recurring problem in Argentina in the last decade.

The company said the seed yields around 20% more crop than a conventional seed during droughts.

"It is almost like an insurance policy," Trucco said, adding that the product's market share in Argentina is a single-digit percentage in its first season of sales.

He expects sales to improve once the company gains scale, allowing Bioceres to price the seed more competitively.

Bioceres' GM wheat is approved for planting in Argentina, Brazil and Paraguay so far. Processing and use of the grain is approved in more countries, Trucco said, including the United States.

(Reporting by Marcelo Teixeira; Editing by Rod Nickel)