Sino US talks on trade deadlock of genetically modified soybeans

Introduction: Singapore, Jan 15: Chinese and American soybean industry officials held talks on Tuesday to break the deadlock caused by China's genetically modified organisms regulations, according to traders "It's really puzzling," said one trader in Shanghai "We don't understand why the government has such a policy China has a huge crushing industry " Traders said the new GM rules were confusing, and stalled imports of soybeans from the US and South America after March 20 The implementation of the new GM regulation will be implemented from March 20 Some importers in China are cancelling new soybean import contracts with South America, which is boosted by Chicago soybean futures Chicago soybean futures have risen sharply since the opening of this year By January 7, China had ordered 25-30 ships of South American soybeans, scheduled for March Chinese importers, on the other hand, are trying to buy more American soybeans, arrive before that fateful day, or try to advance the date of the signed contract Although Chinese importers have repeatedly asked their suppliers to guarantee that the cargo ship will arrive at Chinese ports before March 20, this possibility is almost impossible due to the tight freight traffic in the US Gulf Traders say no one can apply for a safety certificate because it is impossible to prepare all the six documents required to apply for a safety certificate, including official documents from the government of origin to prove the safety of their genetically modified products [domestic price increase] soybean, soybean meal and soybean oil prices in China's soybean consumption areas are further strengthened due to the forecast of a decrease in soybean imports, although domestic soybean stocks may still be as high as 3 million tons It is difficult to transport domestic soybeans to East China by rail because of heavy traffic ahead of the lunar new year in mid February Each ton of freight will also be as high as 200-300 yuan (US $24-36) Traders say China's soybean prices have so far failed to respond to price increases Because many feed processing plants have yet to start purchasing, they need to digest and understand the meaning of the implementation of the GM regulations just released last Monday Some traders worry that unlike last year, the United States may not put more pressure on China on soybean exports this year because it needs China's support for its military operations in Afghanistan and to ease tensions in India and Pakistan When asked whether Brazilian soybeans can be exempted from the current complex process, because Brazilian soybeans are at least officially considered non GMO soybeans, one trader said: "no one (the relevant Chinese authorities) answered my question about Brazilian soybeans We don't know " "Everyone knows that Brazilian soybeans include genetically modified soybeans," said another trader If the government doesn't recognize Brazilian soybeans as non GMO soybeans, where do we go to get official safety certificates? "