Monsanto Under Federal Investigation For Cash Incentives Program

Lucia Graves
Huffington Post

WASHINGTON — Global agribusiness giant Monsanto is under federal investigation for using cash incentives to persuade distributors to use Roundup, the world’s top-selling weedkiller.

Monsanto announced Wednesday the company would cooperate with the Securities and Exchange Commission’s probe of its “customer incentives” programs and a subpoena for documents pertaining to the sale of Monsanto’s glyphosate products in fiscal years 2009 and 2010.

The US-based company has allegedly been offering distributors up to $20 per acre to use Roundup, as well as Roundup Ready seeds, which have been genetically modified to resist the glyphosate-based herbicide.

The announcement came as the agricultural biotechnology giant reported a 77 percent jump in net income, an increase attributed mostly to the strength of its core seeds and genetic traits businesses.

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