Iowa farmers continue to suffer financial losses as a result of China’s import ban on Syngenta GMO corn. Though China began accepting U.S.-grown GMO corn products in December 2014, the farming industry continues to feel the impact of the trade disruption.
According to The Gazette, an Iowa newspaper, China is no longer the top importer of U.S. corn products, since the country banned imports of GMO corn products grown using a corn seed developed by Syngenta.
Also, one Iowa farmer was quoted by the Iowa newspaper as saying that the drop in corn prices is related to disrupted trade with China.
Without a stable foreign market to sell to, a drop in corn prices was inevitable.
The per bushel price of corn fell considerably from July to October 2013, from $6.79 per bushel to $4.63.
The Gazette article mentioned that financial losses suffered by U.S. farmers as a result of the decline in the per bushel price could be around $1 billion. This estimate comes from the National Grain and Feed Association.
Iowa farmers, and U.S. corn growers across the U.S., continue to be impacted by China’s import ban on Syngenta GMO corn. With the growing season ramping up, many are hoping for a better year.
Carey Danis & Lowe is a St. Louis law firm that currently represents U.S. corn farmers who have suffered financial losses as a result of GMO corn. Our team of experienced corn lawyers work tirelessly for our clients to recover any and all losses.
If you are a U.S. corn farmer or exporter who took a financial hit as a result of GMO corn―whether through the Syngenta ban or through cross-pollination―we can help you. Our law firm offers free case evaluations, during which we guide you through your legal options and compensation eligibility. And if appropriate, we can help you file a GMO corn seed lawsuit.
Contact Carey Danis & Lowe today for your free case evaluation. You can reach our law offices by phone at 800.721.2519, or by completing a confidential claim form.References: Consumer protection, GMO, Product Liability