Pressure on Cargill & ADM to dump GMO after China rejects corn imports | Intellihub News
Pressure on Cargill & ADM to dump GMO after China rejects corn imports | Intellihub News:
The United States grows an absurd amount of corn, and more than 90% of that is genetically modified corn, which is then processed and put into foods and drinks of all kinds, particular in its most notorious form – as high fructose corn syrup, as well as dozens of other ingredients.
Now the cornerstone crop of GMO foods is facing new pressures, including a possible split between Big Agra corn producers like Cargill and Archer Daniels and the biotech companies that supply the GM seeds that these agri-giants cultivate.
China is now rejecting GM corn on the basis that its safety is not proven, raising the stakes in a complex East vs. West trade war that has often brought the U.S. economically to its knees.
According to the Wall Street Journal, the U.S. grain industry has suffered blowback from more than 1.45 million metric tons of rejected GM corn and heavy losses. Cargill, for one, attributes a 28% decline in quarterly earnings to the Chinese export setback.
