EU ministers back deal on GMO crops, but Monsanto is not impressed

|About: Monsanto Company (MON)|By:, SA News Editor

A compromise deal to give EU member states the option of banning genetically modified crops won approval today from EU environment ministers, bringing the EU closer to ending years of deadlock on the controversial issue.

The agreement is drawing criticism from both sides: Monsanto (MON +0.2%), who makes the only GMO crop grown in Europe, says it would continue its focus on other markets if the law is enacted as drafted, while the Green Party calls the deal "a Trojan horse" that would open the door to GMO crops across Europe.

The European Commission hopes for final deal by year's end.