Monsanto Canada Inc.

Monsanto Canada Inc.

June 27, 2008 15:30 ET

Monsanto Canada Adopts Bag License Fee for Roundup Ready® Canola Technology

WINNIPEG, MANITOBA--(Marketwire - June 27, 2008) - Monsanto Canada today announced its intent to change the way growers purchase its popular Roundup Ready canola technology to make it simpler for growers, retailers and Monsanto.

The cost of Roundup Ready canola technology will shift from a "per acre" model - currently $15 per acre - to a "bag license fee" model effective September 1, 2008 for the 2009 growing season.

"Growers have told us our existing purchase procedure could be more convenient. Our existing process is also administratively time-consuming for Monsanto and the farm retail network," said Norm Sissons, director of marketing with Monsanto Canada. "Pricing our technology by the bag will make the process easier for all involved."

Roundup Ready canola technology has been sold on the acre since its introduction in 1996. Under the new system, growers will purchase Roundup Ready canola technology at the cost of $156.63 per 22.7 kg bag or $172.50 per 25 kg bag of seed. Invoicing will clearly indicate both the cost of the technology and the cost of the seed variety chosen by the grower.

Growers will still be required to sign a technology use agreement (TUA) applicable to the terms and conditions of using Roundup Ready canola technology, however, the new purchase model gives the grower the opportunity to purchase both technology and seed at one location. As well, the need to report and reconcile planned acres has been eliminated under the new system. Access to Roundup Ready Risk-Share Complete - a program that provides growers with additional guarantees and protection against adverse growing conditions - will also continue to be available to growers.

"The Roundup Ready canola system has proven to be a very popular choice among growers and is now on more acres today than any other system available in the marketplace," said Sissons. "Under this simplified purchase model, Roundup Ready canola will continue to provide significant value to growers and be priced competitively with other herbicide tolerant systems."

Monsanto Canada is part of the global Monsanto family. Monsanto is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information visit www.monsanto.com or www.monsanto.ca.

Roundup Ready® is a registered trademark of Monsanto Technology LLC, Monsanto Canada Inc. licensee.

Roundup Ready® crops contain genes that confer tolerance to glyphosate, the active ingredient in Roundup® agricultural herbicides. Roundup agricultural herbicides will kill crops that are not glyphosate tolerant.

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