Technical barriers will help domestic soybean prices rise

Lead: Beijing (Dow Jones) news: China plans to use technical and technological barriers to protect its agricultural industry, state media quoted officials from the Ministry of agriculture as saying on Tuesday The report suggests that despite China's accession to WTO barriers last month, importers of goods still face huge obstacles in opening up the mainland market In a speech to state-run BusinessWeek, officials from the Ministry of agriculture seem to confirm the suspicion that China's genetically modified regulations were introduced to push up local soybean prices As a senior expert in the information center of the Ministry of agriculture, Tang Yanli said that technical barriers have become increasingly important after China's accession to the trade system based on international rules Because of the uncertainty brought by the genetically modified regulations, the soybean trade between China and the United States worth 1 billion US dollars has been disturbed After months of waiting in a daze for traders, China finally issued detailed rules for the implementation of the regulations in January, requiring genetically modified products to obtain safety certificates and be labeled as genetically modified products before shipment to China Traders suspect that China's new rules are aimed at reducing competition overseas Tang's speech seemed to confirm the suspicions "Traders need to mark genetically modified products, obtain safety certificates, get approval documents and pay for quarantine, so the time and money will increase," Tang said As a result, the price of genetically modified and non genetically modified products will be increased, currently around 15% to 20% " Tang expects China's imports of genetically modified products to fall this year as a result of new regulations and measures Soybean prices in the domestic market will rise in April and June, she said, as imports are likely to fall after the implementation of the new regulations in March (author:) share to feed Weibo share to: