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Are you a corn farmer? Have you lost money due to falling corn prices? Attorneys at Simmons Hanly Conroy are currently investigating the legal rights of farmers and businesses in the corn industry who may have been harmed by China’s rejection of corn and DDGS shipments that contained traces of Syngenta’s Agrisure Viptera MIR 162 corn. Such individuals may be eligible to file GMO corn lawsuits.
In 2009-2010, Syngenta released a genetically modified corn seed, Agrisure Viptera®, into the U.S. market. Viptera® contains a genetic trait referred to as MIR 162 that was not approved for import by China then and still has not yet received approval.
Despite not having approval, Syngenta made statements that approval in China was imminent. For example, during Syngenta’s first quarter 2012 earnings conference call, Syngenta CEO Michael Mack stated, “[t]here isn’t outstanding approval for China, which we expect to have quite frankly within the matter of a couple days … we know of no issue with that whatsoever….” (From Transcript of Syngenta’s First Quarter 2012 Earning Conference Call Transcript.)
The National Grain and Feed Association (NGFA) released an estimate in April 2014 stating that China’s decision to reject U.S. corn and DDGS shipments as a result of Syngenta’s Agrisure Viptera MIR 162 corn has resulted in $2.9 billion in losses to U.S. corn, DDGS and soy sectors. This dramatically impacted the profitability of corn farmers and exporters alike, resulting in a Syngenta corn lawsuit.
In addition, the NGFA predicted that during the 2014-2015 marketing year that began on Sept. 1, 2014, the U.S. corn farming industry could suffer additional economic impact up to $3.4 billion.
Despite the problems Viptera® corn has caused the U.S. corn market, Syngenta launched another MIR 162 product, Duracade™ corn, which is also not approved by China. The release of Duracade™ will likely continue the cycle of harm to corn and DDGS prices that Viptera® caused. NGFA, which represents companies handling almost three-quarters of U.S. grains, expects Duracade™ to also cause similar disruptions in the corn market because the genetically-modified corn product has not yet been approved in China and other U.S. corn export markets.
Simmons Hanly Conroy and our Viptera® corn attorneys are currently investigating the legal rights of other grain industry businesses who may have experienced financial harm because of Syngenta’s Viptera® and Duracade™ corn seed. Below is a list of business types in the grain industry who may have been harmed by Syngenta’s Viptera® and Duracade™ corn seed and be eligible to file a GMO corn lawsuit.