soybean field

USSEC is Hopeful that Recent Approvals in China will Lead to Predictable, Efficient Regulatory Process

In a sign that efforts to increase understanding and building confidence in China are working, China has given clearance to biotech soybeans that had been waiting longer than normal for final approval.  U.S. Agriculture secretary Tom Vilsack confirmed that China approved imports shipments of biotech soybeans developed by DuPont Pioneer and Bayer CropScience.  There are many new soybean products in the pipeline, so this will hopefully be the start of a predictable and timely approval process.
USSEC has taken steps over the past several months in developing initiatives to help boost the Chinese market for U.S. soy in response to the bogging down of China’s biotech approval process in China and erroneous reports in that country’s media.  USSEC’s three-prong approach includes engaging the Chinese industry to talk with their government about potential supply problems if the approval process doesn’t move expeditiously; building confidence through programs such as the U.S. Farm Moms to China; and engaging the International Soybean Growers Alliance (ISGA) to work with like-minded countries.
“I’m hopeful that some of our USSEC tactics have helped China to begin a shift towards a more timely and predictable biotech regulatory process,” said USSEC CEO Jim Sutter.  “We are definitely encouraged by last week’s announcement and hope to hear more regular news like that in the near future.”
Last week, Chinese importers signed purchasing contracts estimated at $900 million, representing 1.8 million metric tons of soy.  The signing ceremony took place in Chicago.
“I foresee a growing demand for U.S. soy in China as their economy continues to develop,” Mr. Sutter continued.  “Our job is to help ensure that there are not barriers in place which impede U.S. exporters’ ability to meet Chinese customers’ needs and to help users in China maximize the efficiency of their systems as they utilize U.S. soy.”