Six months after China began rejecting shipments of a genetically modified corn developed by Switzerland’s Syngenta AG, two of the world’s largest grain traders, Archer-Daniels-Midland Co. and Bunge Ltd., may reject it as well. Even so, U.S. farmers will soon begin planting it this spring, more interested in its high yield for the domestic market than for exports.
Exporters and farmers going in two different directions on GMO corn underscores a new set of challenges faced by international agricultural commodity traders. Even as demand continues to grow in line with the global population, China and other countries have been slower than the U.S. to approve new types of crops amid concerns about food safety and threats to biodiversity from genetically modified organisms, or GMOs. China’s curbs on some modified corn threaten to block millions of tons of imports and in so doing cut into the profits of international trading houses.
Read the full, original article: U.S. Farmers Sow GMO Corn Banned From China Markets: Commodities