Risky Business - briefing

Publication - 6 November, 2007
Total costs incurred around the world as a result of LL601 rice contamination are estimated in the range of $741 million to $1.285 billion. Farmers who incurred direct and indirect losses as a result of Liberty Link rice contamination are attempting to recoup their costs through class action litigation against Bayer CropScience LP, Riceland Foods and Producers Rice Mill.SHORT BRIEFING VERSION

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Executive summary: Greenpeace commissioned an independent agricultural economist to investigate the economic consequences of the rice contamination scandal. The report, "Risky Business", produced by Dr. E. Neal Blue of Neal Blue Consulting, Ohio, US and published by Greenpeace International in November 2007, identifies and quantifies the financial impacts on the rice industry and estimates that the costs of the incident worldwide are likely to be in excess of US $1 billion. Bayer's liability could reach several billion dollars, depending on the outcomes of litigation and any punitive damages that may be awarded.

Num. pages: 6

ISBN: JN 091