China issues additional soybean import license

Introduction: osterdowjones, Chicago, June 19: local traders and analysts revealed to odj on Wednesday that China's quarantine authorities have issued additional import licenses to domestic importers, a sign that the government has relaxed its control over imported soybeans due to the shortage of domestic supplies This week, according to an informal survey conducted by analysts from the State Grain and oil import and Export Corporation, AQSIQ has again issued import licenses for GM soybean importers last week According to the oil seed analysts involved in the survey, the total number of import licenses has reached 35-36, with 1.9-2.1 million tons of soybeans allowed to be imported The quarantine department issues more import licenses to large-scale crushers, but it is very difficult for small and medium-sized crushers or companies to obtain import licenses According to figures from COFCO and the national grain and oil information center, local people familiar with the situation said that China's soybean import is expected to reach 1.9 million to 2.1 million tons from June to July However, despite the acceleration of import and arrival, the total soybean import in China's 01 / 02 market is still expected to be no more than 1100 tons On June 11, the U.S Department of agriculture predicted that China's soybean import in 2001 / 02 will be 11 million tons Analysts said they agreed with the Ministry of agriculture's forecast of 9 million tons China's soybean imports from January to may decreased significantly compared with the same period last year In the remaining three months of the market year, it is difficult to make up for the decrease in imports According to the data provided by the General Administration of customs, China imported 2.85 million tons of soybeans from January to May this year, a decrease of 37.7% compared with the previous year, due to the implementation of strict regulations on genetically modified products since June 2001, when China announced the first set of regulations on the management of biotechnological products, covering the import of genetically modified soybeans, corn and rapeseed.