CHICAGO, Ill. (Reuters) — Archer Daniels Midland has settled a lawsuit with Syngenta over the seed company’s launch of a genetically modified corn strain that roiled grain exports to China, according to regulatory documents filed in February.
ADM sued Syngenta four years ago for selling the corn variety Agrisure Viptera, or MIR 162, before it was approved for import by China.
China rejected U.S. corn cargoes that contained the unauthorized strain, which caused financial losses for ADM, according to the lawsuit.
China ultimately approved imports of Viptera in 2014.
Read Also
Agri-business and farms front and centre for Alberta’s Open Farm Days
Open Farm Days continues to enjoy success in its 14th year running, as Alberta farms and agri-businesses were showcased to increase awareness on how food gets to the dinner plate.
ADM and Syngenta reached a confidential settlement over the matter in December, according to an annual report the grain handler filed with the U.S. Securities and Exchange Commission.
Cargill and U.S. farmers also sued Syngenta. Last year, Syngenta, now owned by ChemChina, agreed to settle farmers’ lawsuits for close to $1.5 billion.
The Cargill case is set for trial in September, according to Syngenta.
“Syngenta is continuing to defend against the claims of other exporters and continues to believe that American farmers should have access to the latest U.S.-approved technologies to help them increase their productivity and crop yield,” spokesperson Paul Minehart said in an email.
Growers also sued ADM over the matter, claiming the company was negligent in failing to screen for GM corn. China’s rejections of U.S. shipments caused corn prices to plummet, according to the farmers’ lawyers. ADM remains a defendant in court actions in Illinois, which the company has sought to dismiss, the SEC filing said.
