USDA, soybean groups study new China GMO rules
Date: 08-Jan-02
Country: USA
Earlier on Monday, China's Ministry of Agriculture said overseas firms exporting
biotech products to China must apply for certificates from the ministry stating
that the goods were harmless to humans, animals and the environment.
China is the largest export market for U.S. soybeans. The U.S. industry is hoping
to ship $1 billion worth in the coming year.
Beijing first announced rules on genetically modified organisms (GMO) products
last June and initially required government approval for all production, sale and
imports of GMO foods.
Confusion over the rules brought a virtual halt to new orders of U.S. cargoes of
soybeans - 70 percent of which are bioengineered - as buyers worried cargoes
might not be approved.
The issue also grabbed the attention of President George W. Bush, who discussed
the problem with Chinese leaders during a meeting in Shanghai last October.
The United States and China reached a formal agreement in September on GMO
products and U.S. soybean sales have since resumed.
USDA and industry officials declined to comment on the rules, saying they had yet
to study the details.
USDA spokeswoman Alisa Harrison said Agriculture Secretary Ann Veneman and other
top USDA officials were still translating the new rules into English. Industry
officials said an official U.S. translation would probably not be completed until
Wednesday or Thursday.
Gil Griffis, director of Asian sales for the American Soybean Association, said
he hoped the new rules would "apply equally to everyone."
China's announcement helped boost U.S. soybean futures on Monday. The Chicago
Board of Trade contract for March delivery jumped 6-1/4 cents a bushel to close
at $4.31 a bushel.
U.S. traders said they hoped the new rules would translate into increased Chinese
business.