China approves 60,000-ton shipment of GMO corn from Argentina
By Victor Santiago, Farms.com
The world’s number three corn exporter, Argentina, has gained lucrative access to the Chinese feed market according to Reuters. More significant, is the fact that the corn imported into China was genetically modified, which usually faces intense scrutiny by its import agency, AQSIQ (Administration of Quality Supervision, Inspection and Quarantine). 60,000 tons of corn is now making its way to feed processors in the middle kingdom. Demand for quality protein such as corn fed pork has exploded with the rapid expansion of the Chinese middle class in the last decade.
This is not the first GMO corn to be imported into China from Argentina, however it is the largest. The first import occurred late last year, after the signing of the China-Argentina GMO deal signed in 2012. China is usually hard to predict when it comes to what they will approve or deny. Therefore the decision to start importing Argentine GMO corn in large quantities added downward pressure to U.S. corn prices. This has compounded the effect of a predicted record corn crop, which has seen U.S. prices fall by over 40% from this time last year.