CHICAGO (Reuters) — Cargill Inc. is suing a unit of Syngenta AG in a Louisiana state court for damages stemming from China’s rejection of genetically modified U.S. corn, which Cargill said cost the company more than $90 million.
Cargill accuses Syngenta of exposing the grain trader to losses by selling the variety to American farmers before the Swiss company had secured import approval from China, a major buyer.
The corn variety known as MIR 162 can be found throughout the U.S. corn supply, effectively closing the Chinese market to U.S. supplies, the lawsuit said.
