Skip to content Skip to navigation

Syngenta Defends GMO Corn as Merger Shifts Blame to China

The first of at least a half dozen trials began Monday in state court in Minneapolis, as farmers and grain handlers try to prove Syngenta rushed its Viptera genetically engineered corn, and then a second insect-resistant GMO seed, to market before obtaining import approval from China. The subsequent rejection of U.S. corn shipments ended up depressing corn prices for five years as China continued to buy from other countries, the farmers say. Syngenta denies any wrongdoing. Syngenta denies that China’s rejection of its GMO seeds harmed farmers in any way, saying it was the huge corn crop in 2013 that forced prices down. “There had been a 30 percent drop because of a record harvest well before the Chinese decided not to take any more corn,” Syngenta lawyer Michael Jones said in an interview. The company had a green light from U.S. regulators to sell the GMO corn and there was no requirement to wait for Chinese officials’ approval to market it, Jones said. The farmers’ claims for damages are “entirely speculative,” he said.

Article Link: 
Article Source: 
Bloomberg
category: