Syngenta AG expects to win Chinese government approval soon for imports of a type of genetically modified corn at the center of lawsuits over U.S. grain shipments rejected by Beijing, a company spokesman said on Friday.
Syngenta, one of the world’s largest seed companies, will make an announcement when it receives official documentation from China that Agrisure Viptera corn, known as MIR 162, has been cleared for import, spokesman Paul Minehart said. He declined further comment.
Approval would be significant because U.S. corn trading with China has essentially shut down since Beijing began turning away cargoes containing MIR 162 corn in November 2013.
Global grain handlers Cargill Inc and Archer Daniels Midland Co, along with dozens of U.S. farmers, have sued Syngenta for selling MIR 162 corn without obtaining import approval from China, a major buyer. They claim the company misled the farm industry about the timeline for approval.
In April 2014, the National Grain and Feed Association estimated that rejections of shipments containing MIR 162 corn cost the U.S. agriculture industry at least $1 billion.
Read full, original article: Syngenta sees China approving contentious GMO corn soon