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[genet-news] BUSINESS & REGULATION: Chinese traders see no imminent Argentina GE corn imports



                                  PART 1


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TITLE:   CHINESE TRADERS SEE NO IMMINENT ARGENTINA CORN IMPORTS

SOURCE:  Business Recorder, Pakistan

AUTHOR:  Thomson Reuters, USA

URL:     http://www.brecorder.com/news/agriculture-and-allied/world/1125244:chinese-traders-see-no-imminent-argentina-corn-imports.html

DATE:    16.11.2010

SUMMARY: "China, the world's second-largest corn consumer, will not import Argentine corn soon as it will take more than two years to lay the groundwork, grain traders and analysts said on Monday. [...] Imports of genetically modified (GMO) corn would take even longer as China's Agriculture Ministry would have to approve the safety of any GMO imports not among the 11 GMO varieties approved by China, said another grain analyst."

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CHINESE TRADERS SEE NO IMMINENT ARGENTINA CORN IMPORTS

BEIJING  (November 16, 2010) : China, the world's second-largest corn consumer, will not import Argentine corn soon as it will take more than two years to lay the groundwork, grain traders and analysts said on Monday. Argentina's Agriculture Minister Julian Dominguez said on Friday that the world's second-largest corn supplier was in talks to export corn to China.

China has signed phytosanitary agreements with only three countries - the United States, Thailand and Peru - for imports of corn for industrial purposes. Such a protocol would take more than two years, said a Chinese grain official who declined to be identified. China's quarantine bureau is in charge of signing such agreements.

Imports of genetically modified (GMO) corn would take even longer as China's Agriculture Ministry would have to approve the safety of any GMO imports not among the 11 GMO varieties approved by China, said another grain analyst. A ministry spokesman contacted by Reuters declined to comment on the minister's visit to Argentina.

Following a drought-hit harvest last year, China imported 1.226 million tonnes of corn in the first nine months of this year, the largest volume in 15 years, mainly from the United States. Tight state stocks coupled with rising demand from livestock and corn processors have prompted expectations that the country may need to import as much as 5 million tonnes next year.

China's quarantine authority recently rejected a US corn cargo containing an unapproved GMO variety, the first-ever rejection by China. The cargo, which was unloaded into silos at Chiwan port in the southern province of Guangdong, would be shipped back to the United States or resold to Japan before end of the month, said one trader who had direct knowledge of the situation.



                                  PART 2

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TITLE:   ARGENTINA IN TALKS OVER CORN EXPORTS TO CHINA, AGRICULTURE MINISTRY SAYS

SOURCE:  Bloomberg, USA

AUTHOR:  Dale Crofts

URL:     http://www.bloomberg.com/news/2010-11-15/argentina-discusses-corn-exports-to-china-country-s-grain-center-says.html

DATE:    15.11.2010

SUMMARY: "China, the second-biggest corn consumer, has bought about 1.5 million tons of the U.S. grain this year, the most since about 1995, as the government sought to cool domestic futures prices that gained 36 percent in the past year. Prices surged 33 percent in Chicago. China and Argentina have been involved in a range of trade disputes from soybean oil to textiles."

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ARGENTINA IN TALKS OVER CORN EXPORTS TO CHINA, AGRICULTURE MINISTRY SAYS

Argentina, the world?s second- largest corn exporter, is in talks with China on a so-called sanitary protocol that would allow it to export the grain to the Asian nation, according to the Ministry of Agriculture.

The South American country expects to speed up discussions with China next year to become an alternative supplier, it said in a statement Nov. 12, without giving further details. China?s Minister of Agriculture Han Changfu held talks with his counterpart Julian Dominguez on Friday in Argentina.

China, the second-biggest corn consumer, has bought about 1.5 million tons of the U.S. grain this year, the most since about 1995, as the government sought to cool domestic futures prices that gained 36 percent in the past year. Prices surged 33 percent in Chicago. China and Argentina have been involved in a range of trade disputes from soybean oil to textiles.

?It?s in both countries? interests to resume corn trade,? said Li Qiang, managing director at Shanghai JC Intelligence Co., by phone from Shanghai today. China?s imports, including dried distillers grains with solubles, may top 5 million tons in terms of corn equivalent in 2011, Li said.

The Asian nation halted corn shipments from Argentina because of restrictions on genetically modified imports, the China National Grain and Oils Information Center said today. About 80 percent of the corn crop in Argentina is genetically modified, it said, without elaborating.

The two countries need to work out a ?phytosanitary agreement,? said Li from Shanghai JC. ?The earliest possible outcome is the middle of 2011,? he said.

Argentina will probably export 17.5 million tons of corn in the 2010-2011 year, up from 15 million tons the previous year, according to U.S. Department of Agriculture data. The U.S. is the world?s biggest shipper.



                                  PART 3

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TITLE:   ARGENTINA NEGOTIATES WITH CHINA OVER CORN EXPORTS

SOURCE:  Thomson Reuters, USA

AUTHOR:  Maximiliano Rizzi

URL:     http://www.reuters.com/article/idUSTRE6AB4C720101112

DATE:    12.11.2010

SUMMARY: "Argentina's farm minister said on Friday it is in talks with China over exporting corn to the Asian country, which does not currently buy Argentine corn due to curbs on genetically modified varieties. Argentina is the world's second-biggest corn supplier after the United States. Rumors swirled earlier this year that China had bought Argentine corn, but no shipments were confirmed."

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ARGENTINA NEGOTIATES WITH CHINA OVER CORN EXPORTS

BUENOS AIRES (Reuters) - Argentina's farm minister said on Friday it is in talks with China over exporting corn to the Asian country, which does not currently buy Argentine corn due to curbs on genetically modified varieties.

Argentina is the world's second-biggest corn supplier after the United States. Rumors swirled earlier this year that China had bought Argentine corn, but no shipments were confirmed.

Genetically modified strains account for about 80 percent of the South American country's corn production, which is expected to reach a record 26 million tonnes in the current 2010/11 crop season.

"A sanitary protocol is being discussed that would give our country access to the Chinese market," Argentine Agriculture Minister Julian Dominguez said in a statement after talks with Chinese officials.

The statement said negotiations would be stepped up next year.

China, already the top buyer of Argentine soybeans, will import some 5 million tonnes of corn in 2011 -- up 150 percent from this year, the statement said.

Dominguez has previously estimated that Argentina will be able to export 18.5 million tonnes of 2010/11 corn.

Argentina's government grants export permits only once it has registered sufficient stocks to cover domestic demand, but Dominguez told reporters on Friday officials would "immediately" authorize corn export permits.

"This is what we've discussed with the president (Cristina Fernandez) because there is an international market with prices that are favorable," he said.

(Reporting by Maximiliano Rizzi; Writing by Helen Popper)



                                  PART 4

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TITLE:   CORN GAINS ON SPECULATION CHINA MAY SUSTAIN IMPORTS AS SLUMP LURES BUYERS

SOURCE:  Bloomberg, USA

AUTHOR:  Luzi Ann Javier

URL:     http://www.bloomberg.com/news/2010-11-15/corn-gains-on-speculation-china-may-sustain-imports-as-slump-lures-buyers.html

DATE:    15.11.2010

SUMMARY: "Corn futures jumped in Chicago, after the biggest slump in six weeks lured importers and investors amid speculation that China, the world?s second- largest user, will sustain purchases. [...] Argentina is in talks with China on a so-called ?sanitary protocol? that would allow it to export the grain to the Asian nation, according to Argentina?s Ministry of Agriculture."

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CORN GAINS ON SPECULATION CHINA MAY SUSTAIN IMPORTS AS SLUMP LURES BUYERS

Corn futures jumped in Chicago, after the biggest slump in six weeks lured importers and investors amid speculation that China, the world?s second- largest user, will sustain purchases.

March-delivery corn rallied as much as 3 percent to $5.645 a bushel on the Chicago Board of Trade after plunging 5.2 percent on Nov. 12. The contract traded at $5.575 at 12:18 p.m. Singapore time.

?It?s a bit of a rebound from last Friday?s prices,? Wayne Gordon, a senior analyst at Rabobank Groep NV, said by phone from Sydney. ?On a fundamentals basis, clearly the balances are still tightening and are likely to be tighter for longer. So that should be, all else being equal, supportive of prices.?

Argentina is in talks with China on a so-called ?sanitary protocol? that would allow it to export the grain to the Asian nation, according to Argentina?s Ministry of Agriculture. The South American country expects to speed up discussions next year, it said in a Nov. 12 statement.

China halted corn imports from Argentina because of restrictions on genetically modified crops, the China National Grain and Oils Information Center said. About 80 percent of Argentina?s corn crop is genetically modified, it said.

The Asian nation may remain in the import market, even as production is forecast by the U.S. Department of Agriculture to rise this year, as the country rebuilds its stockpiles that have dwindled after the government intervened in the market to cool food prices, Gordon said.

Food Prices

China?s corn output was forecast by the USDA on Nov. 9 to expand 6.3 percent from a year earlier to 168 million metric tons in the 2010-2011 season.

Food prices in China advanced 10.1 percent in October, the nation?s statistics bureau said Nov. 11. That?s the biggest increase since August 2008, according to data tracked by Bloomberg.

Wheat for March delivery advanced as much as 1.7 percent to $7.215 a bushel, after plunging 4.6 percent on Nov. 12. The contract traded at $7.11 a bushel at 12:03 p.m. Singapore time.

January-delivery soybeans gained as much as 1.3 percent to $12.8575 a bushel after dropping 5.2 percent on Nov. 12. The contract last traded little changed at $12.6825. 




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