BASF moves unit to US after Europe rebuffs scientific potato
January 16, 2012
BASF SE, the maker of the Amflora scientific potato, is moving the plant-science unit that genetically modifies crops to the U.S. from Germany after European consumers resisted the technology.
The flight of research means Germany may lose out on the $12 billion market for genetically modified plants, which is set to grow 5 percent annually over the next five years, according to advisory firm Phillips McDougall.
The plant-science unit will concentrate on the Americas and Asia, BASF said. Genetically modified potato products will no longer be developed specifically for Europe, though the unit will continue seeking regulatory approval to “maintain all options,” the company said.