The price of corn in the United States is dependent on the ability of farmers to access foreign market, particularly the Chinese corn market. However, the conventional way of operation of the market between the major exports and US farmers changed drastically when Syngenta Seed Company, sold genetically modified corn to US farmers before the corn was approved by China, the leading export. Consequently, Syngenta reaped billions of dollars from the transaction. To counter such unscrupulous means of making money, the biotechnology industry created stewardship standards to reduce the market risks for the US farmers, which was broken by the company.
The Effects of the GMO Corns
Caller writes that the genetically modified corn seeds sold to the US farmers by the Syngenta included the Agrisure Duracade and the Agrisure Viptera. Syngenta convinced the farmers that, in a couple of days, China would approve the seeds since they were of higher quality than those sold previously .Syngenta made hundreds millions of dollars from selling the corns, and on the other hand, the result turned catastrophic for the innocent US farmers. First, China cut its entire links with the United States farmers and consequently stopped importing their corns. The prices of corn went down tremendously. The United States’ corn farmers led by the attorney Mikal Watts decided to file a lawsuit against Syngenta to get compensation for the damages caused to them and to the United States’ corn market.
Mikal Leads the Farmers in the Lawsuit
The seed company was sued in a class action suit over its failure to get China’s approval for its genetically modified seeds. According to Mikal Watts, Syngenta Seed Company demonstrated unacceptable blatant misrepresentation to the US corn farmers. When the company promoted the corns before getting a formal import approval, it valued its profit interests over those of the US corn farmers, which was illegal according to US legal statutes. Watts stated that the farmers had gone through a rough economic devastation following the incident, which led to loses of not less than a billion dollars. Mr. Watts assured the farmers that he would help them recover the damages caused. Watts is one of the few attorney who have broad experience in handing agricultural lawsuits.