GMO Lawsuit: Iowa Farmers Are Suing Syngenta! (1-04-15) ~ https://youtube/watch?v=U4_F1MpCMSI The specific type of corn, Syngenta AG’s Agrisure Viptera, had not been approved by China. The rejection of the corn led to a drop in grain and soybean futures and a three-year low for the price of corn amid at the Chicago Board of Trade amid concerns that China is going to limit not just corn but all agriculture imports. A similar drop in wheat and alfalfa prices occurred earlier in 2013 when GMO strains of both alfalfa and wheat were discovered in Washington and Oregon. Sixteen Iowa farmers and businesses filed a GMO contamination lawsuit against Syngenta seeking both punitive and monetary damages. The biotech company which rivals Monsanto for a share of the genetically modified seed market, is based in Switzerland, but also has operations in Iowa. Previous legal filings against Syngenta combined with the current GMO corn lawsuit now mean that the company faces court challenges from 100 commodity traders and farmers – including Archer Daniels Midland and Cargill. Corn imports to China had been a growing market, especially in the fall of 2013, due to a lackluster corn crop in the Asian country. American farmers had reportedly experienced a “record harvest” of their corn crops, a turn of events which growers thought would have proven good news on the global market.
Posted on: Mon, 05 Jan 2015 02:57:58 +0000
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