September 3, 2003

China Won't Relaxing Soybean Import Controls

Traders said that it is impossible for Beijing to give up controls on soybean imports in the coming months, despite of Washington's warning to lodge an appeal to WTO.

On August 25, US Agriculture Secretary Ann M. Veneman negotiated with Chinese Agriculture Minister Du Qinglin, in a bid to urge China to remove the barriers.

Du said after the meeting that China has not conducted restricts on soybean imports and however intended to import labeled GM products.

At the present time, all traders are expecting China's security licenses.

The traders that will not get the licenses will be gradually banned to export soybeans to China.

The Chinese Ministry of Agriculture has planned to issue the first licenses in early September and the global trading houses that have submitted their application will be given replies after 30 weekdays.