Us analyst translation of China's GM Implementation Regulations

Lead: Washington, Jan 7: US soybean analysts are rushing to translate China's new regulations on the management of imported genetically modified products, which will come into effect on March 20 Emily French, an analyst at worldview in Washington, said they don't have a clear grasp of the regulations because they are now being translated China is the largest importer of us soybeans, with us sales expected to reach US $1 billion this year Chicago soybean futures rose 6.25 cents to close at $4.31 on Monday, despite not knowing the rules Most soybean contracts on China's Dalian futures exchange ended higher, and the market expects that China's soybean imports may be significantly reduced due to the implementation of the new regulations French told odj that it is unclear what the impact of the new regulations on soybean exports will be, because it is not known how strict the three GM regulations are, including safety assessment, labeling system and import safety These are big question marks for the United States She said it would take a day or two for U.S exporters to study the implications of the regulations These regulations require exporters to obtain a security certificate, but analysts in the United States are not sure what the qualifications are French said she hoped the policy would only mean adding a piece of paperwork The obvious advantage of us soybeans is that US produced soybeans have been approved for use in food and feed In June last year, China announced for the first time that it would enact new regulations The uncertainty of the contents of the regulations led to the interruption of soybean shipments from the United States to China, and the export in the second half of last year actually stopped But the U.S and Chinese officials worked together to remove the obstacles, so that U.S soybean demurrage cargo can be restored to China French said there may be a peak of soybean shipments to China in the past three months as exporters try to ship soybeans to China by the March 20 deadline, but most U.S sales contracts already have delivery dates between January and March because the South American soybean harvest will begin to appear on the market in April From a traditional point of view, if it's during harvest, nine out of ten prices are the cheapest So when South American soybeans come on the market, U.S soybeans exports will fall, French said NAk