CHICAGO Feb 24 Consolidated Grain and Barge Co on Monday became the latest U.S. grain handler to say it will not accept crops containing Syngenta AG's new genetically modified corn trait until it is approved by major importers.
The company, a big shipper of grain on the Mississippi River system, intends to reject crops with Syngenta's Duracade product "to protect against significant trade disruptions due to introduction of the trait prior to approval in our important export markets," according to a statement.
Corn seeds containing Duracade, engineered to fight pests called rootworms, are available for planting in the United States for the first time this year after U.S. authorities cleared the strain in 2013. The trait has not been approved for import by China or the European Union, both major buyers of U.S. crops.
Archer Daniels Midland Co on Friday told Reuters it will not accept Duracade crops for export or domestic processing until the trait is approved by major importers. Cargill Inc has said it will not accept Duracade crops for export contracts, while Bunge Ltd has said it only handles crops that have been approved in major markets.
Grain trader Gavilon, owned by Marubeni Corp, has agreed to accept Duracade crops "at market price while providing stewardship and distribution services for producers," Syngenta said last week.