US Department of agriculture and soybean industry study China's genetically modified regulations

Introduction: Washington, Jan 7: on Monday, senior officials from the U.S Department of agriculture and industry export experts studied the long-awaited implementation rules of genetically modified soybeans and other genetically modified crops in China, which will take effect on March 20 On Monday morning, China's Ministry of Agriculture said that companies exporting genetically modified products overseas to China must apply to the Ministry of agriculture for a certificate that the products are harmless to people, livestock and the environment China is the largest soybean export market of the United States The U.S industry hopes to export more than $1 billion of soybeans to China in the new year Beijing first announced the regulations on genetically modified products in June last year, requiring the government to approve the production and sale of all genetically modified imported food for the first time Confusion over the content of the regulations has brought the US soybean trade to a standstill, with importers worried that shipments could not be approved because 70 per cent of us soybeans are genetically modified products The issue attracted the attention of President Bush, who discussed it with Chinese leaders during the Shanghai summit last October U.S soybean sales have resumed since a formal agreement was reached between the United States and China in September on genetically modified products USDA and industry officials declined to comment on the regulations, saying they have not yet studied them Alisa Harrison, a spokeswoman for the U.S Department of agriculture, said the new rules are still being translated into English by Department of agriculture chief Ann Veneman and other senior officials Industry officials say the official translation may not be completed until Wednesday or Thursday Gil Griffis, head of Asian sales at the American Soybean Association, said he hoped the new rules would "treat everyone equally." China's announcement was positive for us soybean futures on Monday The Chicago Stock Exchange jumped about 6.24 cents in March to close at $4.31 a bushel American businessmen say they hope that the new regulations will be conducive to the growth of trade with China MX8