April 16, 2008

China to step up regulations on soy industry

China will strengthen regulations on the soy industry by issuing policies on market access, industry pattern, technological advancement and imports, the National Development and Reform Commission (NDRC) said.

The country will develop non-genetically modified soy, build professional soy bases with high yielding qualities, the ministry informed.

China's drafting of the soy industry development plan refers to guidelines on corn processing industry by NDRC in addition to specified research.

Currently, the soy import independence of China is around 60 percent resulting to volatile fluctuation on domestic market due to international market changes.