China's Ag Minister: GMO Rules Won't Hurt Trade

China's rules on genetically modified food imports will not affect the grains trade, including soybean imports worth more than $1 billion annually, said Minister of Agriculture Du Qinglin.

According to Reuters News Service, Du indicates that China will also complete a series of field tests on transgenic products developed by foreign biotech companies, such as Monsanto, by September.

"Import controls are not aimed at any one country or any one product," Du said. "We can finish the field tests in the timeframe which we have stipulated," he said, implying the tests would be done by Sept. 20, 2003, when China's temporary GMO measure expires.

Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.

To see more market perspectives, visit Brock's Web site at www.brockreport.com.