Posted by paul on February 17, 2016 at 06:58:56 from (66.44.132.180):
In Reply to: Re: Syngenta lawsuit posted by IaGary on February 17, 2016 at 02:05:38:
I believe the company and its representatives did not explain very well that the product was not approved for export into most of our markets.
I believe farmers buying the seed were told it will get approved by harvest don't worry about it. In some cases farmers were substituted this trait instead of what they ordered as is normal in the seed industry, but weren't really told about the issues.
That makes the company at least somewhat responsible for the issue.
I believe the corn market crashed somewhat on news that China was rejecting corn shipments because of the 'contaminated' corn and that this news hurt all crop prices as even domestic buyers were scared by the 'contaminated' corn stories. Certainly much of this was just market manipulation by China, and media frenzy by anti-farmer groups. None the less, it was this corn trait that opened the door for these issues.
Those who grew that trait were not so much harmed by it. It is the rest of the farmers who hadn't even heard of it that got the price downfall.
But after all that, it was a modest price deprecion on a corn market that was way too high anyhow.... So the damages, even tho I see them, are pretty small. Dime a bu in I priced corn?
I didnt bother filling out the forms.
I remember in the Starlink case, I got $88. Wow. I think the Starlink was a bit worse, it came at low grain prices as it were, and then the seed sellers were even less vocal about this being a possible issue come harvest time. My elevator was one that ok Starlink corn back that day, and ran it through the feed ill on site. Folks were trucking Starlink corn from 75 miles around to my elevator with the dime premium offered to Starlink growers so as to get it delivered to the proper buyers. I had very long lines for my regular corn because we were down to one dump pit for all corn and beans delivered that year. The one pit sat there just waiting for any Starlink semis, piped to one bin that was reserved for it. I probably was harmed more by this delay and waiting and full elevator during harvest. I spent more than $88 on fuel waiting in the elevator line that year......
Anyhow. I think there is some merit to the case, but there will be very little payout just like the Starlink deal. It is a lawyer game.
It is interesting that cHina is now buying the company that made the unapproved seed trait. An interesting circle there.
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