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[genet-news] GMO-FREE PRODUCTS & SEEDS: China to buy non-GE soy in Northern provinces





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TITLE:   CHINA TO BUY SOY IN NORTHERN PROVINCES, BUREAU SAYS

SOURCE:  Business Week, USA

AUTHOR:  

URL:     http://www.businessweek.com/news/2010-11-03/china-to-buy-soy-in-northern-provinces-bureau-says.html

DATE:    03.11.2010

SUMMARY: "China?s central grain reserve will buy soybeans this year in the top northern producing provinces to boost incomes, the State Administration of Grain said. [...] Much of the local harvest is used to make products for direct human consumption such as tofu and soya sauce, while imported genetically modified beans with a higher oil content are used for crushing into cooking oil and livestock feed."

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CHINA TO BUY SOY IN NORTHERN PROVINCES, BUREAU SAYS

Nov. 3 (Bloomberg) -- China?s central grain reserve will buy soybeans this year in the top northern producing provinces to boost incomes, the State Administration of Grain said. The government will pay 3.80 yuan per kilogram ($570 per metric ton) for the soybeans harvested this year in Heilongjiang, Liaoning, Inner Mongolia and Jilin, the agency said in a statement on its website today. The purchases began Nov. 1 and end April 30, it said. ?The current market price for new-crop soybeans is about 3.90 yuan to 4 yuan per kilogram, exceeding the government?s price,? Chen Baomin, a manager at Jilin Grain Group Co., said by phone from Dalian. Much of the local harvest is used to make products for direct human consumption such as tofu and soya sauce, while imported genetically modified beans with a higher oil content are used for crushing into cooking oil and livestock feed. China is the world?s biggest soybean importer. The government will only buy beans harvested this year and th
 ey must meet national standards, according to the statement. China Grain Reserves Corp., or Sinograin, will administer the procurement, the statement said.




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