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China rejects another GM corn shipment from US; possible move to boost domestic prices

, | | December 5, 2013

China has rejected five more shipments of not-yet approved GM corn from the US, a move that could “discourage imports amid a growing domestic supply surplus.” Shipments totaling 120,642 tons—not including the 60,000 tons rejected recently—contained the unapproved, insect-resistant MIR 162 strain developed by Syngenta, says the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ). The AQSIQ also says it had told the US to “improve its inspection procedures to ensure that it complied with Chinese quality standards.”

China is the third largest importer of US corn, but due to a domestic corn supply surplus, inspections of imported corn may face stricter inspection. Beijing officials have promised to “stockpile the domestic harvest…as it seeks to shore up domestic prices and boost farmer incomes.”

Domestic firms might turn away from imports because of GMO concerns, which would support domestic prices, says a senior analyst.

Read the full, original story here: China Rejects U.S. Corn Shipment Due To GMOs; Could Be Move To Boost Domestic Prices

The GLP aggregated and excerpted this article to reflect the diversity of news, opinion, and analysis. Click the link above to read the full, original article.
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