China approves Syngenta biotech corn

China’s Ministry of Agriculture has approved a controversial biotech corn product that has been blamed for the collapse of U.S. corn exports to the big Asian market, U.S. Agriculture Secretary Tom Vilsack said Wednesday. China began late last year rejecting corn shipments from the U.S. after it found some containing the biotech corn, developed by Swiss seed maker Syngenta AG . Syngenta had been selling the corn to U.S. farmers since 2011, though it was still awaiting approval for the product from Beijing. Grain-trading firms and farmers have sued Syngenta over what they claim are tens of millions of dollars in lost sales and depressed corn prices after China began turning away vessels loaded with American corn. <more>

Dec. 17, 2014 The Wall Street Journal