China will import American wheat
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Last Update: 2002-02-20
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Source: Internet
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Author: User
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Lead: Reuters news traders revealed that China will appease the United States by purchasing American wheat during President George Bush's visit to China, rather than making concessions on laws and regulations, at the expense of hundreds of millions of farmers Traders believe that the United States has only received a small favor, and that China's purchase of American wheat is to please the United States In spite of Bush's efforts, China's ambiguous GM regulations will not be changed any more The market hasn't seen any wheat trading as Tuesday is the first working day after the Chinese Lunar New Year holiday China has not imported a lot of American wheat for several years The market is speculating about what kind of American wheat China will import and how much it will buy before Bush arrives in Beijing Despite China's huge demand for imported high-quality wheat, China produces 100 million tons of wheat a year, and the supply of domestic wheat is sufficient, including a large number of stocks The Chinese government is worried that it will not be able to export more feed wheat to feed wheat importing countries such as South Korea, as market competition is intensifying and other low-priced alternative feeds, such as corn, are gradually replacing feed wheat.
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