China’s economic reasons for rejecting GM corn

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Back in the beginning of December, China blocked 5 shipments of corn from entering the country. The General Administration of Quality Supervision, Inspection and Quarantine claimed that the shipments were blocked because they may contain certain varieties of GMO corn produced by Sygenta which have yet to be approved for commercial sale in China.

China’s real aim here has nothing to do with protecting their markets from a as-of-yet regulated biotech product. Because corn prices have hit record highs the past few years, a contractor such as China that has bought the corn in advance is paying higher prices. Now that the price of corn has dropped, China no longer wants to pay those high prices.

So what do they do? They reject shipments of US corn and break the contract. They can then turn around and purchase the corn again at a much lower price, which reflects the current value on the market.

Read the full, original post: So, Why Did China Really Reject Our GMO Corn?

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