Agribusiness giant Archer Daniels Midland Co. said on Tuesday it is paying an extra 20 cents per bushel for soybeans that have not been genetically modified and are delivered to its processing facility in Decatur, Illinois. "We are paying 20 cents," ADM spokesman Larry Cunningham said, adding that the leading grain and oilseed processor had sufficient non-GMO soybean supplies until December. Nearly 70 per cent of the soybeans grown in the United States are genetically modified to be herbicide resistant, and premium prices act as an incentive for farmers to segregate their non-GMO crop from gene-altered varieties. Environmental and consumer groups in Europe strongly object to the use of genetically modified crops in food because they say more research is needed to ensure such products are safe to humans and not harmful to the environment.
