SAO PAULO, June 8 (Reuters) - Brazilian biosecurity agency CTNBio on Thursday approved commercial use of genetically modified sugarcane, according to a statement from CTC Centro de Tecnologia Canavieira SA, which developed the technology.

CTC said that the new variety is resistant to an insect known as Diatraea saccharalis, one of the main plagues threatening Brazil’s sugarcane fields, with an estimated 5 billion reais ($1.52 billion) of annual losses to producers. A CTC representative said it was the first time in the world that genetically modified sugarcane was approved for commercial use.