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Syngenta hopes ChemChina buy will open doors wider for GM crops
February 12, 2016 / 12:33 PM / 2 years ago

Syngenta hopes ChemChina buy will open doors wider for GM crops

SINGAPORE, Feb 12 (Reuters) - ChemChina’s $43 billion acquisition of Swiss seeds and pesticides group Syngenta AG could help dissipate fears of genetically modified crops in China and lead to their greater acceptance, a senior Syngenta executive said on Friday.

Davor Pisk, chief operating officer overseeing Asia Pacific and North America, said that Chinese ownership of genetically modified technology would make mainland consumers, who have so far been sceptical, more comfortable with the technology.

State-owned ChemChina last week made the bid for Syngenta, in China’s biggest overseas takeover, aimed at improving food production in the world’s largest agricultural market.

“The indications are that the government wants to move towards adopting more use of GM technology, but to do so in a very cautious way, recognising that there is still a lot of consumer uncertainty and anxiety about the question of GM foods,” said Pisk in an interview with Reuters.

“One of the benefits of ChemChina acquiring Syngenta is to hopefully remove some of the suspicion around modern technologies as they relate to agriculture amongst Chinese consumers.” (Reporting by Rujun Shen and Gavin Maguire; Editing by Muralikumar Anantharaman)

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