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China putting brakes on soymeal exports on GM worries
(Thursday, Sept. 12, 2002 -- CropChoice news) --
Reuters,
Nao Nakanishi, 09/11/02:
Chinese exporters
have slowed sales of soybean meal in case new rules on genetically modified
crops force another halt in soy imports, and that India was winning back its
market share in some countries, including Japan, as Chinese soymeal prices
stood way above the prices from India or even Argentina, which still has
soybeans left due to financial woes earlier in the year.
The story says that many people in the industry in China fear soy imports
could grind to a halt on December 20, when an interim agreement with
Washington on gene-altered crops expires. Under that accord, China agreed to
accept U.S. certification that GM crops were safe for humans and livestock.
Processors from China, the top importer of U.S. soybeans with purchases of
$1 billion last year, had been buying large amounts of soybeans recently for
delivery before December 20.
So far, Beijing has remained silent on whether the agreement with the U.S.
will be extended or whether a new set of rules will apply to GM crops. | |
