With no patent, a black market flourished, forcing Monsanto to lower prices to less than half its American price. Today, as much as 90 percent of Argentina's soy crop may be genetically altered, the highest percentage in the world. Monsanto's decision to enter this market without patent protection puzzled many people, including its fiercest critics. Jeremy Rifkin, president of the Foundation on Economic Trends, which is suing Monsanto in federal court for alleged antitrust violations, said Monsanto had long argued that it could not make money unless it controlled intellectual property rights. Monsanto says it will eventually have adequate patent protection in Brazil.
Executives insist that despite the experience in Argentina, patent protection remains essential.
The consideration entering Argentina was that we wanted to obtain patent protection. We also wanted to provide our new technology to this market. We wish the situation were different, but it's not. In Brazil, police have raided fields in the states of Rio Grande do Sul and Mato Grosso do Sul, where officials have said they intend to declare their states free of modified seeds. The attraction is clear.