Home Indiana Agriculture News Federal Reserve Official Suggests It’s Time for International GMO Crop Standards

Federal Reserve Official Suggests It’s Time for International GMO Crop Standards

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Richard Fisher
Richard Fisher

In response to the rejections of U.S. corn shipments by China, a U.S. Federal Reserve official suggested farmers should consider a path toward internationally accepted standards for genetically modified crops. Speaking to farmers in Chicago, Dallas Federal Reserve Bank President Richard Fisher said it was important that the revolution of genetic modification be responsibly carried forward to avoid threatening trade.

Millions of tons of corn have been held out of the Chinese market apparently because of GMO characteristics. The trait in question wasn’t segregated from other corn varieties because China’s approval appeared imminent, but approval by China has been pending now for more than two years.