Syngenta AG, an international seed company based in Swizerland, has stated that they were being transparent in letting farmers in the United States, Brazil and Argentina know that the genetically modified corn seeds it sold to them had not been approved by the Chinese government. That alleged omission is believed to have led to over $1 billion dollars in lost sales to those farmers.
For more information, contact Attorney Group for Arkansas today. Our consultations are free, confidential and without any obligation on your part. We can help answer your questions, and if you choose to pursue a claim we can connect you with an affiliated Arkansas Syngenta lawsuit attorney who can assist you throughout the legal process.
Syngenta GMO Corn
Farmers who purchased the company’s biotech seeds – MIR162 – in 11 states (including Arkansas) say that the Arkansas Syngenta lawsuit is based on the company informing them that approval for the genetically modified corn (known as Viptera) was imminent, which would allow it to pass through for importation by Chinese grain inspectors and thereby take advantage of the lucrative Chinese market. But the Chinese government didn’t approve it, and the result was that country’s ban on nearly all U.S. corn because Viptera and non-Viptera corn was found co-mingled upon testing. China had been the third largest import of corn, one of America’s cash crops.
Financial Impact
When the corn in question began to be rejected by those officials in November 2013, the international market for the farmer’s corn severely declined and dropped the price of a bushel of corn by 11 cents, leading to over $1 billion in losses for American farmers. In less than six months under the ban, over 1.45 million metric tons were rejected.
In October 2014, it was reported that corn futures prices had dropped roughly 18 percent in 2014, despite what was expected to be the largest corn crop in United States history. That would be the second consecutive year that corn prices have seen such a drop. In 2013, prices fell 40 percent.
How an Arkansas Syngenta GMO Corn Lawsuit Can Help
Farmers who have lost money as a result of Syngenta selling genetically engineered corn seed are filing Syngenta GMO corn lawsuits. Whether or not a farmer used GMO corn seed, their harvest may have been contaminated, rejected or sold at a lower price as a result of Syngenta’s actions. Plaintiffs include exporters, corn farmers, brokers, grain silos, resellers and others involved in the corn chain of distribution. Corn farmers who did not use Syngenta corn seed may also be able to pursue a claim.
People who have been affected by Syngenta GMO corn are encouraged to seek the advice of a qualified Arkansas Syngenta lawsuit attorney so that they can be informed of their legal rights.
For more information, contact Attorney Group for Arkansas. After you contact us, an attorney will follow up to answer questions that you might have. There is no cost or obligation to speak with us, and any information you provide will be kept confidential.
Please note that the law limits the time you have to pursue a claim or file a lawsuit for an injury. If you think you have a case, you should not delay taking action.
