Bioceres Crop Solutions Pushes for GMO Wheat to Fight Global Hunger

The global food supply is facing a crisis due to the Ukraine war and more extreme weather patterns, leading to rising food prices and the risk of global famines. In response, Argentina’s Bioceres Crop Solutions (BIOX.BA) is pushing to develop genetically modified (GMO) wheat that is drought resistant. The company is now planning to carry out field tests of its GMO wheat in Australia and seek planting approvals next year.

Bioceres CEO Federico Trucco called the Russia-Ukraine conflict a “reality check” for global food supplies, helping to make the case for GMO wheat. Australia has already approved the consumption of food derived from Bioceres’ GMO wheat, but only Argentina has authorized planting of the company’s HB4 wheat. Brazil is also test planting HB4 wheat in the dry ‘Cerrado’ savanna region.

Trucco said the next phase in the internationalization of GMO wheat is Australia, and Bioceres plans to start the formal regulatory process seeking planting approval next year with the aiming of getting the green light in 2024. The company is also in talks to take a majority stake in a new venture in Australia with the local arm of U.S.-listed S&W Seed (SANW.O) that would incorporate that firm’s wheat business.

Australia’s Department of Health said there was no timeline for a decision on approving Bioceres’ HB4 wheat for planting as it had not yet formally received the application. Trucco said he hoped also to get a green light in the United States, where the firm has requested planting and consumption approvals from the Agriculture Department (USDA) and the Food and Drug Administration.

Consumer opposition to wheat has lingered, and seed company Monsanto shelved plans to develop genetically engineered wheat in the United States in 2004. Trucco said that a natural future step for the company would be to target approvals in Russia and Ukraine for its GMO wheat, but for now the two major producers of the grain were a ‘no go’ area due to the conflict.

Bioceres’ GMO wheat could be a game-changer in the global food supply, providing a drought-resistant crop that could help alleviate the risk of global famines. The company is now seeking planting approvals in Australia and the United States, and is in talks to take a majority stake in a new venture in Australia. If successful, Bioceres’ GMO wheat could be a major step forward in the fight against global hunger.