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7-Business: Japanese and South Korean consumers shun U.S. GM beans

                                 PART I
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TITLE:  Japanese Food Makers Look For New Supply As Domestic Soybean
        Prices Soar 60% - Consumers Shun U.S. GM Beans
SOURCE: The Nihon Keizai Shimbun, Japan
DATE:   6 Sep 2005

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Japanese Food Makers Look For New Supply As Domestic Soybean Prices Soar
60% - Consumers Shun U.S. GM Beans

TOKYO -- Wholesale prices of domestic soybeans have jumped 60% year on
year, sending tofu and soybean milk producers rushing to secure
sufficient inventories.

Prices have risen on increased consumer demand for the beans because of
their health-promoting properties and partly because of a series of
typhoons that damaged domestic crops last year. In addition, consumers
are shunning American genetically modified soybeans.

However, Japanese producers are having difficulty passing the higher
prices onto consumers and are trying to secure supplies from new sources.

Major tofu producer Asahi Food Processing Co. is due later this month to
market tofu made only with Australian soybeans, which are not genetically
modified, through supermarkets in the Tokyo area. The price is about 148
yen per 400g, 10 yen cheaper than tofu produced with domestic beans.

The company used 4,000 tons of domestic soybeans last year, but has
turned to Australian farmers in the belief that it can obtain only 3,000
tons of Japanese beans this year, company officials said.

Kibun Food Chemifa Co., the nation's largest soybean milk producer, says
it plans to halve the amount of domestic soybeans, as a percentage of the
total amount of beans it purchases, to just under 3% in the year ending
next March and will buy more from the U.S.

According to the Agriculture Ministry, there was demand for 5.31 million
tons of soybeans in fiscal 2003, up 7% from fiscal 2000. The increase is
attributable in part to public recognition of a substance contained in
soybeans called isoflavone, which is said to fight cancer.

                                 PART II
------------------------------- GENET-news -------------------------------

TITLE:  S.Korea says buys 25,000 tonnes US No.1 soybeans
SOURCE: Reuters
DATE:   4 Sep 2005

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S.Korea says buys 25,000 tonnes US No.1 soybeans

SEOUL, Sept 5 (Reuters) - South Korea's state-run Agricultural and
Fishery Marketing Corporation has bought 25,000 tonnes of non-genetically
modified U.S. No.1 soybeans from ADM, an official at the Korean firm said
on Monday. Loading is set for between Oct. 29 and Nov. 17 from the U.S.
Gulf and arrival on Dec. 22 at the port of Inchon. Details of the
purchase, made via a tender closed on Friday, are as follows:
bought at $360.93 per tonne on a cost-and-freight basis.
TONNE: 25,000
SHIPMENT: Oct. 29-Nov. 17 (US Gulf)
          Nov. 12-Dec.  1 (Pacific Northwest)
ARRIVAL/PORT: Dec. 22/Inchon


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