Mon January 27, 2014
Monsanto Meeting To Draw Protests Over GMOs
Monsanto is no stranger to battling the controversy over Genetically Modified Organisms, or GMOs. Some of that controversy will come to Monsanto’s doorstep Tuesday afternoon during the company’s annual shareholder meeting.
Several groups have promised to protest outside the meeting, where two resolutions dealing with GMOs are likely to be introduced.
One resolution asks that the company work with the federal government to develop GMO labeling on food.
Harrington Investments Inc. is introducing the other proposal.
It asks Monsanto to produce a report on the costs of contamination when GMO crops cross-pollinate with non-GMO crops.
Harrington research analyst Tracy Geraghty says Monsanto is fighting a losing battle by trying to hide the risks of GMOs.
"And basic economics tells us this is not a sustainable model. It’s unsustainable," Geraghty said. "It’s not free market economics."
Monsanto’s Board of Directors is recommending a "no" vote on both resolutions.
In its annual investors' report the company says it supports voluntary labeling as long as it’s truthful. It also says that agriculture has a long history of battling cross-pollination when two varieties of crops are grown next to one another.
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