December 19, 2008

China stockpiles transgenic soy  amid falling demands

China's coastal ports have stocked up more than 4 million tonnes of transgenic soy as demand for soy demand dampens.

This surplus of transgenic soy-- the variety that possesses a gene or genes that have been transferred from a different species-- will further compete with Chinese indigenous soy.

In early December, imported transgenic soy inventories reached a peak of 4.3345 million tonnes and maintained at 4.2 million tonnes recently. The import of soy hit 3.32 million tonnes in November and is predicted to reach 3.2 million tonnes to 3.4 million tonnes in December.

The full-year soy import is seen to hit 38 million tonnes compared to just 30.82 million tonnes last year.