The genetically modified policy has attracted attention, and the industry has different reactions

Introduction: Chicago, September 26 news: Chinese sources have different opinions on the impact of the regular GM meeting implemented after December 20 on China's soybean import Although it was reported this week that the soybean import contract that the Chinese government promised to sign before December 20 could be unloaded at the port of normal arrival on December 20, this did not really show the position of the Chinese government on the GM import policy China's top officials, including Vice Premier Li Lanqing and Vice Foreign Minister long Yongtu, have assured Alan Johnson, the agency's chief agricultural negotiator, in Beijing on Wednesday that China's soybean imports will not be interrupted between November and December The statement helped ease market concerns ahead of a summit between President Jiang Zemin and President Bush According to Johnson, China will make some kind of official statement on China's soybean imports before the summit of the two countries In March this year, just before China's new genetically modified regulations came into effect, China and the United States reached an interim agreement on the import of soybeans, which made the trade of soybeans between China and the United States not stop after the new genetically modified regulations came into effect But the interim agreement expires on December 20, when China will implement stricter new GM regulations Chinese soybean buyers have been scrambling to order imported soybeans in recent weeks amid rumours that imports could be halted for some time after the new genetically modified regulations come into effect But this week's report said that the Chinese government appeared to be loosening its stance on GM policy, which led us and Chinese sources to disagree There are rumors that the December 20 deadline will be postponed, and analysts from the Chinese government speculate that the temporary agreement between China and the United States may become a permanent fixed agreement The fact that China needs to import soybeans is obvious, said a Beijing trader While China should allow soybeans to continue to be imported, the Chinese government cannot open the door to import soybeans without restrictions The Chinese government should also protect the interests of its farmers, especially this year's soybean harvest (2) the decline of soybean purchase price is still worthy of market attention Analysts of COFCO said on Thursday that the Chinese government's stance on genetically modified imports is still far from clear According to COFCO analysts, there are still many uncertainties, such as China's soybean harvest this year, so the Chinese government will have to take these factors into account when implementing the GM import regulations The report talks about the farm purchase price of China's new beans, which can be used as a specific indicator to measure the income level of Chinese farmers this year In recent weeks, due to harvesting pressure and lack of large-scale procurement by domestic end-users, the purchase price of newly harvested soybeans in Northeast China has declined This week, Xindou's purchase price was between 1900 yuan and 1960 yuan per ton (US $1 = 8.28 yuan), 150 yuan lower than last week The decline of soybean price is mainly caused by the pressure of high yield of soybean In addition, COFCO analysts expect China's soybean imports to reach 4 million tons in the fourth quarter of 2002, which will further worsen the supply side and further reduce soybean prices But COFCO analysts point out that China's soybean prices are still about 20% higher than last year In any case, in the fourth quarter of this year, China's soybean supply will be very sufficient, so any loosening of the Chinese government's GM import policy will cause the domestic soybean price to fall (3) the price of soybean products will fall to the lowest point in November Analysts from Chinese government agencies disagree on the impact of GM regulations and GM regulations on soybean prices When asked about the possible extension of China's interim GM agreement, a Chinese analyst said that the Chinese government will keep its promise that the soybean trade will remain stable in December and there will be no big fluctuation Analysts from government agencies say China's soybean imports will no longer be restricted by the GM policy China's National Development Planning Commission has long benefited from soybean imports to promote the development of the crushing industry The Ministry of agriculture will not make a new statement until December 20, which means China will continue to implement the interim agreement reached earlier The price of domestic soybeans and products will be under great pressure as the soybeans ordered by Chinese buyers after August will arrive at Chinese ports before December 20, and it is expected to drop to the bottom by November At present, traders are not interested in purchasing American soybeans, because squeezing domestic soybeans is more profitable However, it is reported that China has ordered 30 ships of soybeans from South America, which will arrive in April and may Traders in Beijing say that at present, the market can temporarily not worry about the impact of GM policies (author:) share to feed Weibo share to: