Crushers waiting for news on GM policy

Introduction: traders are now concerned about the import of soybeans after 2001 / 02 market year Since the temporary import regulations of genetically modified products will be changed after December 20, there are great uncertainties in soybean import According to the export sales report of the U.S Department of agriculture, as of September 5, Chinese importers had signed a contract to import 1.54 million tons of U.S soybeans, which were delivered in 2002 / 03 market year (September to August of the next year), an increase of 89.5% over the same period last year, with a huge increase ZCT according to Beijing sources, while Chinese importers import a large number of us soybeans, US soybeans prices have continued to rise in the past month This situation further increases the risk that importers are taking, as their current behavior is based on the market's general belief that the Chinese government may control soybean imports in order to raise local soybean prices during soybean harvesting 'our company bought three American soybeans because we couldn't shut down our production line,' said a Beijing trader who works for the Hong Kong oilseed processing company If the production line is shut down for one day, it means a loss of 20, 000 yuan We are really not sure about the policy now In fact, everyone is betting on the GM policy after December 20, because the government's intentions are still unclear ZCT traders will pay close attention to the change of soybean price in the local market, because the price has guiding significance for the unpredictable transgenic policy It is rumoured that the Chinese government may formulate a new set of genetically modified policies based on the prices of farm soybeans in the past few years But the current market situation is that soybean processors are willing to pay high prices for local soybeans and imported soybeans, and the crushers are still eager to continue to make huge profits before the Mid Autumn Festival in late September and the National Day in early October ZCT is facing the uncertainty of genetically modified policy For the rest of 2002, China's soybean oil price may continue to strengthen, because local trading companies, even some state-owned warehouses, want to store more edible oil, especially in the case of China's rapeseed production falling this year The Hong Kong trader said that China's soybean market is like a big net When you click one point, another point will be reflected It can be imagined how difficult it is for a crusher to predict the market prospect zCt
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