Agriculture officials in the Philippines have approved a genetically modified insect-resistant corn type made by agribusiness multinational company Monsanto for commercial planting. The corn variety is known as YieldGard Corn Borer, and farmers in the country will start planting it soon.

"This approval demonstrates that both Filipino farmers and government regulators recognise the safety and benefits of plant biotechnology, which is why the use of these technologies continues to expand throughout the world,' said Robb Fraley, Monsanto's chief technology officer.