A large number of imported soybeans are unavoidable after China's accession to the WTO

Introduction: according to foreign reports, China's agriculture will undergo a painful turning point this year: soybean imports from the United States are expected to exceed domestic production for the first time This result has aroused strong concern in China and is likely to aggravate a brewing dispute about genetically modified food It seems that China's soybean planting industry is one of the most unlikely industries to escape the impact of the world The cost of production in China is almost twice that of the United States Now that China has joined the WTO, the tariff will be reduced to 3% It seems inevitable that a large number of imported soybeans from the United States and the subsequent collapse of domestic soybean prices are inevitable Domestic analysts say the entire soybean industry will collapse if urgent measures are not taken Bng said the Chinese government was shocked by the prospect of a sharp increase in soybean imports, with controversial rules on genetically modified food enacted in June About 70% of American soybeans are genetically modified According to the regulation, all genetically modified foods need to be labeled, and it takes 270 days to obtain a safety certificate (the current regulation is 90 days) If the new regulations are implemented, it will prevent most of the soybeans in the United States from entering China However, six months after the promulgation of this provision, China has not yet put forward detailed rules for its implementation, thus making the legislation ineffective According to industry observers, one of the most important reasons for the surge in soybean growth is the rapid increase in soybean oil demand Higher production costs and prices also drive demand for foreign products But many say the real problem is not Chinese soybeans - they are said to have higher protein content and oil yield than foreign soybeans, or even prices According to industry insiders, the real problem is China's outdated trading system, which leads to higher transaction costs Bng according to a Shanghai businessman, it takes three months to deliver the soybeans purchased in the domestic market, compared with the fact that the buyer can get the soybeans purchased from overseas within 18 to 25 days after paying 10% of the deposit, and more importantly, there is no need to worry about the quality It is said that it is much more difficult to buy in the domestic market The buyer must choose the source of goods and go to the village to supervise the selection, handling, packaging and shipment The negligence of any link means the decline of the quality of the final product Bng said that a batch of domestic soybeans with 40 wagons were mixed with stones and sand equivalent to two wagons However, China's weak legal system, the widespread phenomenon of farmers' non-compliance with the contract, coupled with the local protectionism of the local government, means that any litigation and efforts to recover losses are bound to have no results As a result, many say, even with the introduction of rules and regulations on GM, the influx of American soybeans is unlikely to be blocked at customs Some optimists say China's soybean industry can survive because it is not genetically modified and therefore meets European export standards According to official figures, China's soybean exports increased by 1.1% in the third quarter of this year compared with the same period last year, while the export revenue increased by 14.2%, indicating that the mainland soybean obtained higher prices BnG