China’s December soybean imports jump... China imported 10.56 MMT of soybeans in December, up 19.1% from last year and the highest monthly tally since June 2021, as importers tried to ease tight supplies. For 2022, China imported 91.08 MMT of soybeans, a 5.6% decline from the previous year.
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China approves more GMO crops... China has given safety approvals to both imported and domestically developed genetically modified (GMO) crop varieties, the agriculture ministry said. The approved imported crops include two Bayer glyphosate-resistant alfalfa varieties, a Brazil-developed GMO sugar cane and BASF herbicide-resistant cotton. Beijing also approved some domestic GMO varieties, including corn and soybeans.
China expects to keep inflation moderate in 2023... China’s inflation is expected to remain moderate this year and the inflationary pressure will be under control in the near term, Zou Lan, head of the monetary policy department at PBOC said. Rising demand may increase prices, said Zou, adding China should also guard against imported inflation.
