GMO Corn Lawsuit and Labor Disputes Affect Crop Prices
February 4th, 2015|
The agricultural industry is a vital part of the economy in the United States, accounting for almost $900 billion in financial transactions. There are numerous factors that can affect the income of U.S. farmers though, including the actions of large corporations.
Last year, corn prices were significantly affected after tons of corn destined for export to China was found to contain traces of genetically modified (GMO) seeds. China refused to accept the corn that contained trace genetics from Syngenta Agrisure Viptera® MR162 because the country has a ban on that particular strain of GMO produce.
The refusal of the corn caused prices on the grain to plummet, leaving many farmers no choice but to file a GMO corn lawsuit against Syngenta for allowing their product to cross-breed with non-GMO corn crops, and for misrepresenting the product’s approval status with China.
Now, farmers are fighting a different battle against prices. An article from AG Professional explains Illinois farmers are still struggling to get the prices they need on corn due to a labor dispute occurring at a major west coast distribution hub. Reports indicate containers full of corn are awaiting shipment, causing prices to plummet.
At Fleschner, Stark, Tanoos & Newlin, we know the financial struggles those in the agriculture industry face on a daily basis. That’s why our Indiana personal injury lawyers suggest speaking with a legal representative if the prices of your crops are being affected by someone else’s negligence.