"Innovative Solutions to Modern Agriculture": Capitalist Farming, Global Competition, and the Devolution of the U.S. Rice Industry

Coclanis, Peter A. (2018). "Innovative Solutions to Modern Agriculture": Capitalist Farming, Global Competition, and the Devolution of the U.S. Rice Industry. In Beckert, Sven, Desan, Christine, Hyman, Louis, Moreton, Bethany & Ott, Julia (Eds.), American Capitalism: New Histories (pp. 303-36). New York: Columbia University Press.

Coclanis, Peter A. (2018). "Innovative Solutions to Modern Agriculture": Capitalist Farming, Global Competition, and the Devolution of the U.S. Rice Industry. In Beckert, Sven, Desan, Christine, Hyman, Louis, Moreton, Bethany & Ott, Julia (Eds.), American Capitalism: New Histories (pp. 303-36). New York: Columbia University Press.

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On July 11, 2011 Bayer Cropscience, one of the three subgroups of Bayer AG, issued a brief statement announcing that it was paying $750 million to settle a protracted legal battle with roughly 11,000 U.S. rice farmer in Arkansas, Texas, Louisiana, Mississippi, Missouri, California, and a number of other states. The settlement ended hundreds of lawsuits against the company brought by rice growers, who claimed that in August 2006 they discovered that their rice fields (and by implication the U.S. rice supply more generally) had been contaminated by trace elements of Bayer CropScience's experimental herbicide-resistant GM rice strain, Libery Link 601 (LL601). The farmers claimed they had lost millions of dollars after the contamination was discovered, as the EU, Japan, South Korea, and other importers either banned U.S. rice completely or accepted shipments only after it had been proven that they were not contaminated by LL601 (which had not been approved for human consumption). Rice futures fell sharply almost immediately after news of the contamination was announced, and it is estimated that the "debacle" -- business magazine Fast Company's description -- eventually cost the industry a total of $1.2 billion.





CHAP

American Capitalism: New Histories

Columbia Studies in the History of U.S. Capitalism

Coclanis, Peter A.

Beckert, Sven
Desan, Christine
Hyman, Louis
Moreton, Bethany
Ott, Julia

Fergus, Devin

2018





303-36




Columbia University Press

New York





8238

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