Tighter soybean oil rules to limit imports
3 August 2004
China said that, beginning October, it will halve the amount of solvent residues permissible in soybean oil imports, a move that could disrupt US$1 billion in soybean oil shipments from Brazil and Argentina. The decision, aimed at protecting domestic producers, was announced by the China National Grain Oils Information Center, which comes under the State Grain Administration. China imported 1.4 million metric tons of soybean oil worth US$850 million in the first half of this year, more than double 2002's entire imports.
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