Traders look forward to resolving possible barriers to soybean trade

Introduction: traders welcome the news that China may extend the transitional period agreement on genetically modified soybeans, and say they will eagerly look forward to the Chinese government's statement on this matter "It's certainly good news for us, but we won't be fully convinced until we hear from China about this and how long the extension period will be," said Beijing trader, who works for a global trade bank Some traders at keea say part of the reason China expects to extend the December 20 deadline is that more time is needed to carry out the necessary tests on GM soybeans If China can announce the extension of the transitional period of genetically modified soybeans in a short period of time, it will prevent the soybean trade from stalling from November, as Johnson said In March this year, China and the United States reached a transitional agreement on soybean trade, which enabled the soybean trade to resume However, the future soybean trade flow will depend on whether the traders can be ensured and can import soybeans safely after December 20 At that time, China promised to issue a permanent safety certificate by December 20, but it would take about six weeks from the signing of the contract to the arrival of soybean products, said Kay Johnson Therefore, if the delivery date of the contract that the shippers want to sign is after December 20, the situation will be worrying Kiea China's Ministry of Agriculture issued a genetically modified regulation in June 2001, which blocked soybean imports from the United States and South America More than 70% of American soybeans are genetically modified KEa