The estimates vary, but corn industry participants say that somewhere between $1 ‒ $3 billion is the total loss handed to the US corn industry after China’s rejection of a specific GMO corn product.
Corn industry participants, including US corn farmers, felt the financial impact of the trade disruption with China, and are stepping forward. They’re filing GMO corn seed lawsuits targeting Syngenta, a Swiss biotechnology giant.
Thousands of lawsuits
According to The Free Press, a Mankato, MN news outlet, there are around 2,000 GMO corn lawsuits pending in the US as of early November 2015. Carey Danis & Lowe GMO corn lawyers reviewed the lawsuit docket in late November 2015, and noted that the number has since risen to just under 2,500.