After Syngenta received approval from the USDA to sell its Syngenta Agrisure Viptera corn seed, hundreds of thousands of acres were planted with the GMO MIR162 product.
Despite the hope that the Viptera corn would ward off pests and lead to a better yield and therefore larger profit, farmers in Iowa and in other corn-faring states saw profits crash. The reason? A complete ban on U.S. corn in China, the third largest importer of the American cash crop. Now, farmers in several states have either filed or are considering filing an Iowa Syngenta lawsuit against the Swiss-based company for allegedly misleading them.
Syngenta’s GMO Corn Marketing Tactics
As part of marketing Viptera, Syngenta said that China was on the verge of accepting shipments of this type of genetically modified corn. The CEO of the company said that China would make known its decision to permit corn grown from Viptera into the country in a matter of days. In addition to farmers, Syngenta marketed Viptera and the alleged opening of the Chinese market to grain elevator, storage operators and grain exporters.
The Reality of GMO Corn in China
In fact, the Chinese government never gave permission for corn grown from that type of GMO seed to be allowed into the country. China initiated a zero tolerance policy for Viptera. That policy all but shut down grain exports from the U.S. into China.
China had been the third-largest market for U.S. corn exports. The National Grain and Feed Association has said that in the early part of 2014, nearly $3 billion in economic losses were sustained as a result of China’s ban on U.S. corn. Furthermore, corn futures have dropped from $8 per bushel to close to $4 per bushel.
Have You Been Affected by China’s Ban on GMO corn?
China’s ban on the MIR162 corn seed did not affect just those farmers who grew it. As a result of the zero-tolerance ban, even farmers who grew only organic corn may be eligible to file an Iowa Syngenta lawsuit against Syngenta. If you are an Iowa corn farmer who has experienced a financial loss on your crop, and you believe that Syngenta may be responsible, Attorney Group for Iowa can help. We can evaluate your case and determine if you have a claim.
If you do, an affiliated attorney with Attorney Group for Iowa can file an Iowa Syngenta lawsuit on your behalf with no out-of-pocket cost to you. Our experienced attorneys can help you get a monetary compensation that will help you recover your lost profits. Call Attorney Group for Iowa today to find out more.