American wheat export to China has come down by 85%
It is reported that as China has banned importing gene developed wheat, the export of American wheat to China has come down by 85%.
According to a latest report the loss to the American merchant is USD 427 million.
China took steps to ban American stocks from last November as MIR 162 gene has found in them. Syngenta company has modified this gene and China has not granter permission for it.
So far, 1.45 million of stocks have been rejected.
American merchants say that until the approval is received from the large scale markets like China, new species should not be given to the farmers.