(Reuters)— U.S. approval of Dow AgroSciences’ new Enlist herbicide tolerant, genetically modified corn and soybean systems takes the company a step closer to its “most important” product launch ever.
However, a series of hurdles re-main.
“We sure are aware of the concerns that have been expressed,” said company president Tim Hassinger.
“At the same time, we’ve been really pleased with how the farm community and the broader agricultural community have come forward in support.”
Dow AgroSciences has spent nearly five years seeking U.S. regulatory approval for the new herbicide and new herbicide-tolerant crops, which it calls the Enlist Weed Control System.
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Dow projects that Enlist has a $1 billion value for the company and hopes it can be on the market in time for the 2015 U.S. planting season.
“This regulatory process on Enlist … has been a lot of work. This has been very thoroughly tested,” said Hassinger.
The seed and herbicide have received approval in Canada, and the company hopes to have Enlist corn ready for commercial release in Eastern Canada in 2015 and soybeans in 2016. Canola products could role out the following year.
Enlist Duo is a combination of glyphosate and 2,4-D choline, which is designed to address problems with glyphosate resistant weeds.
Dow, which had $7.1 billion in revenue last year, hopes Enlist will boost its share of the lucrative U.S. seed market, which now is dominated by Monsanto.
However, threats of lawsuits by food safety and environmental groups who want to block Enlist could delay Dow’s hopes to have U.S. farmers planting the new crops next spring.
Critics have inundated regulators with predictions that the herbicide will increase already severe weed resistance problems on farms and create safety issues for consumers.
“We will litigate,” said Andrew Kimbrell, executive director of the Center for Food Safety.
The non-profit group has a history of winning court orders that have delayed other GM crops, including sugar beets, canola and alfalfa.
Another potential hurdle is Dow’s lack of Chinese import approval for Enlist. China has recently been rejecting shipments of U.S. corn because of concerns it contains a GM corn developed by Syngenta that has been approved in the United States but not in China.
Dow said it has not determined if it will wait for Chinese approval before selling Enlist in the U.S.
Hassinger said the company was “right in the middle of the process” in its quest for Chinese import approval of Enlist.
The process generally takes two years, he added.
Part of the process requires Dow to ship its GM seeds to China for testing before they can gain approval.
And though the U.S. Department of Agriculture approved Enlist crops Sept. 17, the company still needs approval from the Environmental Protection Agency for Enlist herbicide.
Hassinger said the company will not discuss detailed plans for commercialization until the EPA an-nounces its decision.
Dow is also seeking approval in Brazil and Argentina.
