Biotech food giant Monsanto announces massive profit increases

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(Digital Journal) -The biotech food giant, Monsanto, a company that has battled Americans and the world over GMOs in the food they create, announced increased profits on Wednesday. Their profit, the company said, rose 22 percent over the three-month period ending Feb. 13.
The numbers saw the St. Louis company that markets its products worldwide, make $1.48 billion in net profit during that 3-month time period, a climb of $2.74 per share. This comes in the wake of the controversial ‘Monsanto Protection Act’ (a title coined by its opponents), a piece of legislation in the U.S. that allows for Monsanto to be protected from litigation connected to health problems that may arise from its genetically modified organisms (GMO) and genetically engineered (GE) seeds and crops. Monsanto: dominates seed market with GMOs, GEs Monsanto has been dominating the seed market for over a decade and are increasing sales in emerging markets in South America, such as Argentina and Brazil, and in Latin America. The company’s genetically engineered corn, cotton and soybean seeds have dramatically increased sales in the last quarter; sales of their crop chemicals, like the herbicide Roundup, which kills weeds, are also on the rise. Food safety advocacy groups like ‘Food Democracy Now’ have gathered a petition of more than 250,000 names in protest of the legislation from President Obama and the U.S. government. They say that GMOs and GEs have not been scientifically shown to be safe and the legislation will allow Monsanto and other companies to create and market foodstuffs without taking into account potential health risks to consumers. Monsanto said its revenue total jumped 15 percent to $5.47 billio
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