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US may increase regulation of GMO sales
Dec. 30, 2014
The US agricultural sector has elaborated a set of rules to increase regulations over GMOs. The precautions are mainly about the new genetically-modified seeds, aiming to avoid problems for farmers to export in the international market.
The red alert came after a fall of 87% of corn sales to China in October of 2014, with loads rejected by China. Since the end of 2013, Chinese regulators started to return tons of the U.S. cereal that had GMO not approved yet in the country. After having tens of millions of dollars in losses, exporters resolved to sue seed developer Syngenta AG. Some even went further, filing sue accusing Syngenta of responsibility for the fall of corn prices。
The group which elaborates market regulations for GMOs is composed by representatives of seeds companies, grain trading companies, and farmers. The expectation is to reach a consensus in the year of 2015 implementing a set of practices that involve how seed companies should release sales plans, determining which export markets should be avoided and how to manage grain transport.
Source: AgroNews
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