China's soybean import inspection is relaxed, and the dawn of genetically modified dispute appears

Introduction: China's trade business said Tuesday that China has relaxed the quarantine inspection of South American soybeans, which makes the market look forward to the fact that the first shipment of soybeans to China this year will not face major problems On Monday, a commodity inspection official at Yantai port in northern China told Reuters that the first U.S ship of soybeans of the new year had arrived at the port over the weekend, and the inspection time is expected to be as long as one month But Chinese traders expect port quarantine authorities to inspect the ship within a few days, especially since it was ordered before June 6, the watershed date for China's new regulations on genetically modified organisms The inspection authorities did not inform Yantai that the buyer or supplier of the soybeans had any problems, nor did they say how the soybeans were handled differently from the previous South American soybeans freighter The 60000 tons of American soybeans will be unloaded from the ship on Tuesday, a day later than planned, due to the low tide, a trader familiar with the vessel said The trader in Shanghai added, "but the problem is that the market is not very good Maybe the delivery volume is very low, because the financial situation of the squeezing factory is not very good They will buy as much as they need " Like others, the trader also said domestic soybean and soybean meal prices continued to be weak, although the fourth quarter was usually the peak season for feed demand, as it was spring There is no news about the GM rules, and the market is hopeful Traders say Beijing has yet to issue detailed rules for the implementation of the new genetically modified regulations, which has brought Chinese orders for us soybeans to a standstill in the past few months Since no one knows how to obtain the required GM safety certificate, it is almost impossible to obtain a new import license, they said As the first positive sign, China's quality inspection authorities appear to have relaxed inspections since the APEC meeting in Shanghai last month Since September, the commodity inspection process has stepped up Traders said authorities had allowed South American soybeans ships to move, which remained in warehouses at the port for up to four weeks without giving any explanation A Hong Kong trader said, "the imported soybeans in China can be unloaded We haven't heard any news of detention, so it seems that the inspection has been relaxed." Some traders said changes could be detected in Monday's USDA export inspection report, which showed 346437 tons of soybeans were shipped to China The Hong Kong trader from an international trade bank said, "there have been rumors that these soybeans have been sold to China But it's not that big " Others question whether China needs to open a wide door for soybean imports in the near future, as domestic soybean meal prices are particularly weak Due to the rapid expansion of crushing capacity, the feed industry is now facing low domestic prices of pork and poultry With the global economic slowdown, meat exports have also been hit The agriculture counsellor of the U.S Department of agriculture in Beijing released a report on Monday that lowered China's soybean import forecast to 12 million tons in the market year beginning in October, down 2 million tons from the previous forecast of 14 million tons Compared with that, the import volume in the last market year was 13.25 million tons.