Market News & Headlines >> ADM, CGB Shun Duracade Corn
Consolidated Grain and Barge Co (CGB) on Monday became the latest U.S. grain handler to say it will not accept Syngenta AG's new genetically engineered Agrisure Duracade corn variety until it is approved by all major importers. Those markets include China, Egypt, Turkey and the European Union, said CGB, a major shipper of barge and rail grains to the Louisiana Gulf export market, in a press release.
“CGB is committed and heavily invested in marketing US grains to the world market,” said Greg Beck, vice president of the firm’s grain division. “CGB supports GMO technology to increase yield and farmer efficiency; however, it is imperative that we take measured steps to protect against significant trade disruptions due to introduction of the trait prior to approval in our important export markets.”
The move follow’s Friday’s announcement by Archer Daniels Midland that it would not accept crops with the Agrisure Duracade trait at any of its domestic processing facilities or for export shipments until the new rootworm-resistant trait is approved by major exporters. ADM joined its major rivals Cargill Inc. and Bunge LTD in setting restrictions on Duracade corn.
Gavilon Grain LLC, however, announced on Friday that it will partner with Syngenta to provide producers with a marketing channel for Agrisure Duracade corn. For farmers participating in the innovative "Right to Grow" program, Gavilon will accept Agrisure Duracade grain at market price while providing stewardship and distribution services for producers.
"In supporting farmers who choose to grow Agrisure Duracade, we will demonstrate the supply chain's capability to expand beyond the basic commodity model in grain marketing, which is the future of market access for U.S. grains," said Jim Anderson, Gavilon chief operating officer.
National Corn Growers Association president Martin Barbre said in a press release that the group is “pleased to see Syngenta's efforts to administer a limited trait release of Agrisure Duracade that seeks to balance the importance of maintaining farmers' access to technology while maintaining markets for U.S. corn".
NCGA will provide information regarding the status of import approvals with key importing markets and reference stewardship plans in place through its “Know Before You Grow” website as they become available.