ScwartzReport: Cargill Sues Syngenta (Monsanto) for Closing China Market — Should US IT Industry Be Suing Dell ,HP, IBM, Etc. for Selling Out to NSA?
It is beginning to look like GMO, principally an American economic activity, may not endure as structured. This is one example of why I say that. There is a developing consensus against it.
Cargill Sues Syngenta Over Sale of GMO Seeds Unapproved in China
JACOB BUNGE – The Wall Street Journal
In a fight that highlights global sensitivity over genetically modified crops, Cargill Inc. sued Syngenta AG SYNN.VX -0.56% , claiming that the Swiss seed maker’s push to sell bioengineered corn seeds that weren’t approved in China cost the U.S. grain company $90 million when Beijing rejected corn shipments.
The suit, filed on Friday in Louisiana state court, escalates tensions that have shaken U.S. agribusiness since China last year sharply curtailed imports of U.S. corn. Beijing’s move all but closed off a major market for the grain, contributing to a sharp decline this year in prices for the U.S.’s biggest crop by value and costing shippers hundreds of millions of dollars, according to U.S. grain groups.