Non-modified soybean harvest success

XINHUA ECONOMIC NEWS SERVICE 26dec02

HARBIN -- Despite the great impact on the rural sector brought about by the nations accession to the World Trade Organization (WTO), the soybean production of Northeast Chinas Heilongjiang Province, a main producer, has witnessed a good market in 2002, China Daily reports.

One of the major factors in this trend-beater was the emphasis on growing non-genetically modified soybean. A report by the China Grain and Oil Import and Export Co. Ltd revealed that the delivery price of soybean on November 28 in Harbin was 2,240 yuan/ton, 80 yuan higher than the previous week.

Meanwhile, data from the Provincial Statistical Bureau showed that the sown area of soybean in the province reached 2.56 million hectares in 2002.

The price increase of soybean in a bumper harvest season is the result of a reduction of soybean supply in the international market, coupled with the improved quality of the local soybean, experts said.

In response to widespread public concern over the safety of GM foods, many countries have imposed bans on imports of genetically modified food products.