Adds details on trade considerations
BUENOS AIRES, Sept 10 (Reuters) - The head of Argentina biotech firm Bioceres BIOX.O said on Tuesday it will take at least two years for the firm to start marketing its genetically modified wheat variety HB4 to buyers in the United States, following a U.S. government approval.
Last month, the U.S. Department of Agriculture approved the cultivation of HB4 wheat, which has higher resistance to drought, following approvals from Argentina and Brazil.
Speaking on a company earnings call, Bioceres CEO Federico Trucco said that before the launch of U.S. sales, HB4 wheat must be developed with wheat genetics used in the United States and approved by countries that import U.S. wheat.
"We're already collaborating with some (U.S.) wheat players, in particular the Colorado Wheat Research Foundation, with which we are developing seven types, focusing on hard red wheat for both winter and spring," he said.
"Whether it takes another year or depends on other elements involving trade implications particularly for U.S. exports," said Trucco, emphasizing that approval by key importing countries of U.S. wheat was a condition for commercial launch.
Bioceres is working with the U.S. Wheat Associates and the National Association of Wheat Growers, two U.S. farmer groups that require that varieties like HB4 wheat win approval from U.S. export markets prior to their use.
Major U.S. wheat importers such as Mexico, the Philippines and Japan, have yet to approve HB4 wheat developed by Bioceres.
(Reporting by Maximilian Heath; Writing by Sarah Morland; Editing by David Alire Garcia)