August 15, 2006

China's Heilongjiang to reduce 25 percent of soy plantings

Heilongjiang, a major grain-producing province in northeastern China, said it would reduce its soy planting area by a quarter due to excessive stock and low prices.

More than 100 soy-crushing companies operate there in the peak period, with only four or five such companies conducting discontinuous production.

The province, which produces more than half of China's soy, issued a warning, that the move would most likely have an impact on the non-genetically modified soybean industry of the country.

China's Ministry of Agriculture has instructed its departments to launch surveys and researches to assess the impact.