More corn grow­ers sue Syn­genta di­vi­sions

China Daily (Canada) - - BUSINESS -

Three Syn­genta AG units are be­ing sued by United States corn grow­ers claim­ing the com­pa­nies ru­ined the mar­ket for their crops by sell­ing ge­net­i­cally mod­i­fied seed that prompted China to bar im­ports of almost all Amer­i­can corn. The mod­i­fied va­ri­eties con­sti­tute 3 per­cent of US-planted acreage, so there is no way to en­sure that corn for ex­port will not con­tain trace quan­ti­ties, ac­cord­ing to the farm­ers’ com­plaint filed in fed­eral court in Chicago. Re­jec­tion of that corn by China, iden­ti­fied by the grow­ers as the third-big­gest Amer­i­can corn im­porter, caused 2013-14 mar­ket prices to crash, lead­ing to lost sales and in­come in ex­cess of $1 bil­lion, they said.

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