Verdeca, the soybean joint venture between Arcadia Biosciences and Bioceres, has received approval from Paraguay's National Commission for Agricultural and Forestry Biosafety for its HB4 drought and herbicide tolerant soybeans.

With this approval, the HB4 trait now has regulatory approval in more than 80% of the global soybean market, having already received approval in the US, Argentina and Brazil. Regulatory submissions are currently under consideration in China, among other relevant production and consumption territories. Import approval from China is required for commercial launch in Argentina, with this now expected in late 2020.