September 18, 2003
China Rejects Non-GMO Brazil Soy Cargo
A Chinese crusher had cancelled one cargo of non-GMO (genetically-modified) soybeans from Brazil Thursday due to payment complications
"We gave up the cargo as we cannot agree with the Brazilian supplier about the way of delivery," said Tian Renli, president of Jiusan Oil and Fat Co Ltd told Reuters from Harbin, Heilongjiang, China's top soy producing province.
Tian said his company, which has only used non-GMO soybeans, had booked the cargo to fill the gap before the arrivals of domestic soybeans. The harvest was expected to start later this month.
He said Jiusan Oil had rejected a request from Brazil to pay for the cargo before its arrival in Chinese port Dalian.
Jiusan is willing to buy cargoes of non-GMO soybeans from Brazil if prices are below 2,250 yuan ($271.8) per tonne after arrival and import tax, he said.