U.S. wastes $2.9 billion growing GMOs banned in China

U.S. wastes $2.9 billion growing GMOs banned in China





Wednesday, April 23, 2014 by: L.J. Devon, Staff Writer
Tags: GMOs, corn exports, China
(NaturalNews) A new report from the National Grain and Feed Association reveals that over a million tons of genetically modified corn coming from the US has been blocked at Chinese imports since late 2013.

The US agriculture industry has since then taken a $2.9 billion hit, as the GMO corn shipments are turned down. According to the report, US corn exports to China are down 85 percent since January, when compared to figures obtained in early 2013.

The GMO corn, manufactured from Syngenta AG, is named Agrisure Viptera corn. It has been waiting for approval in Beijing for the past four years. With only industry-ran safety studies to go by, Chinese regulators continue to mull the decision to approve it.

GMOs failing to feed the world; the call for nutritious whole food is beckoning
Claiming to "feed the world," biotechnology giants like Syngenta market GMOs to countries around the world, slowly gaining more control over nature, seed and food production. This mad science experiment waged on whole foods is actually reaping the grief, not abundance; GMOs are constantly rejected around the world, turned to waste, or sold to the highest bidder.

In fact, the lack of safety studies on GMO food give many countries no choice but to bar the lab-engineered food up front, as they evaluate whether or not it's safe for their own agriculture.

It's now apparent that humanity's innate call for nutritious whole food is crying out to be heard. It can be seen and felt in the malnourishment of chronically ill patients dying in hospitals around the world. It can be seen in the frightening rise in cancers and diseases. Lab-engineered food is not the answer. Whole food nutrition is.

China rejects 1.45 million tons of GMO corn, strangles US agriculture
The Chinese trade disruptions began in November 2013, as the world's third-largest corn buyer began rejecting an unapproved strain of seed known as MIR 162. The National Grain and Feed Association reports that since then China has rejected nearly 1.45 million tons of corn. This tops a modest Chinese estimate reporting that the country rejected at least 900,000 tons of the MIR 162 variety.

US corn exporters like Cargill Inc. and Archer Daniels Midland Co. have taken a huge hit, shouldering between $225 and $427 million in financial losses.

The trade disruptions have resulted in an astounding 28 percent drop in earnings for Cargill for the first quarter of 2014. The loss will be felt all the way down to farmers. With corn prices expected to depress by 11 percent per bushel, at least $1.14 billion will be lost when US corn farmers begin to tally up their earnings for the past nine months.

Experts predict that China has an ample supply of corn stocked up and will likely block further US imports in 2014, making the billion-dollar losses reach full economic effect by the end of 2014.

"How do you put a dollar figure on it? I expect everything they have with us to be washed out," said Karl Setzer, grain solutions leader for MaxYield Cooperative in Iowa. Setzer expects US corn prices to depress by 10 to 20 cents per bushel.

Furthermore, the National Grain and Feed Association warns that Syngenta's newest, untested strain of corn, Agrisure Duracade, may not be accepted worldwide either, especially in China. Traders estimate that US agriculture could expect potential losses of $3.4 billion by the end of 2014 as the new Duracade corn is introduced for the first time in America and rejected in countries around the world. Traders are calling for seed manufacturers like Syngenta to shoulder some of the losses, as the rejection of GMOs wages on.

As the rejection of GMOs continues around the world, one can almost hear humanity collectively crying out, beckoning for pure, unadulterated and highly nutritious whole food.

http://www.naturalnews.com/045041_GMOs_corn_exports_China.html