BASF, the world's biggest chemicals company, said Tuesday it has decided to no longer seek European approval of its genetically modified potato products in the face of stiff resistance.

BASF said in a statement it will "discontinue the pursuit of regulatory approvals for the Fortuna, Amadea, and Modena potato projects in Europe because continued investment cannot be justified due to uncertainty in the regulatory environment and threats of field destructions."

A year ago, the giant had announced it would halt the development and marketing of new genetically-modified products destined for the European market over concerns in some countries over the technology.

And it also moved its plant science headquarters to the United States.

BASF's latest decision comes only days after the European Commission in Brussels announced it will freeze the approval process for genetically modified food crops through the end of its mandate next year while it works towards an agreement with EU member states.