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Abstract

This paper analyses a productive opportunity taken by a family-owned Brazilian soybean crusher (Imcopa) as it adapted its production system to sell certified non-GM soybeans products. Imcopa was Brazil’s first soybean crusher to implement a non-GM soybean traceability and certification system, in 1998. It is now held to be the world’s largest non-GM lecithin exporter. The analysis adopted here is based on a microeconomic perspective of productive opportunities identified by the firm, which goes beyond a simple balance-sheet approach. Four fundamental elements were used to guide the analysis: benefit-cost ratio; information asymmetry; bounded rationality; and company’s growth. The possibility of selling non-GM soy and soybean products on the international market has provided Imcopa with access to an even broader commercial network of feed and food products. This has given the company a better outlook on why it should diversify its activities and intensify its pace of growth.

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