Lawsuit claims Syngenta’s actions caused market destabilization, decline in corn prices
Midwest Corn Lawsuit is seeking restitution for billions in damages, claiming that Swiss seed company Syngenta AG marketed a seed corn which allegedly led to a destabilization in the global corn market.
In 2009, Syngenta introduced a corn seed – known as Agrisure Viptera and which contained a new genetically engineered corn trait labeled MIR162 – to the American market. The ‘Agrisure’ variety of Syngenta seed is engineered for protection against insects such as rootworm and corn borer.
Agrisure Viptera was introduced to the American market prior to receiving import approval from China, and though Syngenta claimed at the time that they expected Chinese approval “quite frankly within the matter of a couple of days,” approval was in fact not granted until December of 2014 - roughly five years after Viptera’s introduction.