🚀 ProPicks AI Hits +34.9% Return!Read Now

REFILE-UPDATE 1-BASF says GMO potato deemed safe by EU agency

Published 06/11/2009, 06:46 AM
Updated 06/11/2009, 06:49 AM

(Refiles to include UPDATE 1 tag in headline)

* Assessment gives scientific clarity to EU -BASF

* Shares up 0.7 pct, slightly outperforming broader market

(Adds details, background, shares)

FRANKFURT, June 11 (Reuters) - German chemical maker BASF said on Thursday its genetically modified potato, Amflora, designed to yield industrial starch, has again been described as safe for humans in a recommendation by the European Food Safety Authority (EFSA).

"Today's assessment gives the entire EU Commission the final scientific clarity to approve Amflora," said Stefan Marcinowski, executive board member in charge of BASF's plant science and pesticides business.

"I am pleased, since the EU Commission stated in May 2008 that it will approve Amflora 'if and when' EFSA has confirmed the safety of the product."

Shares in BASF were up 0.7 percent at 1011 GMT, while Germany's DAX top-30 index was 0.5 percent higher.

BASF in July last year took legal action against the European Commission, saying it unjustifiably delayed the approval process for Amflora, which BASF started 12 years ago.

BASF has been awaiting European Commission clearance of Amflora since July 2007, and hopes the fresh EFSA recommendation will result in the Commission giving its approval.

Thursday's recommendation by the EFSA follows its initial assessment in 2006 that Amflora was safe for humans and the environment.

Amflora was engineered not for human consumption but to yield high amounts of a type of starch that can be used by the paper and textiles industry. (Reporting by Ludwig Burger and Christoph Steitz; Editing by David Holmes and Simon Jessop)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.