Bayer is the only company eligible to grow the maize in the UK and claims new government rules would mean too many delays to make the process economically viable.



Earlier this month the Government gave conditional approval to growing Chardon LL forage maize, but Bayer said that too many uncertainties and undefined timelines would stall production for too long.



The Government has not yet decided on rules for growing GM and non-GM crops, or for compensation for contamination by GM pollen.



Dr Julian Little, a Bayer CropScience spokesman said "We hope the UK will be able to benefit from the opportunity afforded by this technology some time in the future. We would like to thank all UK farmers and stakeholders who have supported our efforts to make progress on this project."



But Andrew George MP, Liberal Democrat rural affairs spokesman accused biotech companies of wanting "the profit but not the problems from GM crops.



"Bayer admit that having vital systems to protect consumers, farmers and the environment, would mean GM crops simply aren't worth the trouble.



"It also shows that the Government's decision to go ahead with Chardon LL was ill judged. It gave only conditional approval for the next two years - implying that there may be problems with the crop.



"The licence would then only have been renewed in October 2006 if further evidence was provided, calling into question why it was acceptable for the crop to be grown next year.



"If there were so many difficulties, why did the Government ever give the go-ahead?



"Bayer's decision now gives Ministers time to get it right on GMs, having so far go it wrong."