Lawsuits Filed Against Grain Growers, Traders and Syngenta; China Review of GMO
After farmers alleged losses from China rejecting shipments of genetically modified corn, Syngenta AG has now sued several grain-trading firms. Dow Jones reports the lawsuit that was filed last week stems from a legal dispute that arose last year. That dispute was attributed to grain companies and farmers suing Syngenta, arguing the company should compensate them for lost sales and lower corn prices that they claim arose from the rejected shipments. Syngenta argued in the new lawsuit that grain merchants, including Cargill and Archer Daniels Midland, should be on the hook for losses that crop producers say they are due in the matter.
China has committed to accelerating its review of U.S. GMOs. The move would smooth trade in biotech crops. The Obama administration said China agreed to the acceleration following a meeting on trade issues. Over the weekend, USDA Secretary Tom Vilsack said the Chinese government would move quickly to review the 11 biotech events pending approval, and “continue our dialogue on access for U.S. beef."