US approved, China not so approved….
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With U.S. approval for Dow AgroSciences’ package of chemicals and new genetically engineered crops now in hand, the Dow Chemical Co (DOW.N) unit faces a major obstacle to a $1 billion market opportunity: Chinese import barriers.
The Asian nation has become a major buyer of U.S. corn and soybeans in recent years, but has also shown mounting reluctance to accept some genetically modified crops grown by U.S. farmers. China for the last year has been rejecting U.S. corn shipments containing traces of a type of GMO corn developed by Syngenta AG (SYNN.VX).