China's genetically modified regulations are seen as a trade force to protect domestic production

Introduction: Singapore news on January 11: on Friday, traders said that China's regulations on the implementation of genetically modified organisms (GMOs) regulations can be called a new way to protect the interests of hundreds of millions of farmers after China's accession to the WTO On Monday, China released measures to implement the regulations on genetically modified organisms and announced that they would be implemented on March 20 Traders said they had more questions than answers to the measures At present, no one knows how or where to obtain the safety certificate of imported GM products required by the government, including soybean, soybean oil, corn or rapeseed It is not clear whether the Chinese government has included the contracts signed before March 20 and the corresponding cargo ships arriving after March 20 in the scope of application of the regulations A Ministry of agriculture official told Reuters on Monday that contracts signed before the new implementation measures were issued did not require a safety certificate "We think the government will control the import of soybeans, soybean meal, soybean oil, corn, rapeseed or other genetically modified products," said a Shanghai based trader "Our government needs a tool to control the market China's agricultural products cannot compete with those of the United States and South America " The soybean market has been waiting nearly seven months for the government to clarify the rules and regulations since the Chinese government first issued the genetically modified regulations in June last year Traders said the government's goal may be to make the rules vague so that they can be implemented flexibly in the future "The government just didn't mean to detail the GM system." "The goal is clear It's a strategy to prevent people from importing soybeans or any other agricultural products, so as to protect the interests of Chinese farmers." Under WTO rules, China has promised to allow large quantities of agricultural products to be imported at low tariffs Among them, 2.5 million tons of soybean oil, 879000 tons of rapeseed oil and 5.85 million tons of corn were imported [soybean trade is in the transitional stage] due to the fact that the Chinese government has not yet released the promised import quota of agricultural products, this chaotic situation has caused disaster to the market, and the soybean market has been the first to bear the brunt "We have stopped all business and we are afraid to order soybeans from any source, the United States or South America," said a trader at a major international firm that supplies soybeans to China Too much risk " Many traders stopped buying soybeans from South America on Sunday after Argentina announced a 30% devaluation of the peso against the dollar Argentina is one of the largest soybean exporters in the world except Brazil But they have now received a series of spot orders from China, hoping to arrive before March 20 Some traders said the U.S soybeans were shipped to China on Wednesday for 95-98 cents a bushel of water at the Chicago March contract price It is very difficult for other American ships to carry cargo, because American Gulf granaries are very busy at present Dalian soybean futures surged this week, rising 90 yuan per ton in anticipation of restrictions on soybean imports, despite weakness in the past two days This week, spot soybean prices in the port rose by about 50 yuan per ton and soybean meal by about 30 yuan Some traders believe that GM regulations are actually for corn Chinese farmers produce as much as 100 million tons or more of corn a year The domestic soybean production is only about 15 million tons per year EsT