China allows the import of soybeans used to pressurize animal feed oil (all GMO soybeans), but does not allow the use of peas in food products.

However, trade data for many years shows that many millions of cheap imported soybean in China may be illegally imported and used in the food sector.

Soybean futures on June 12 reached 3,996 yuan ($ 587.82) a tonne, the highest level since March 10, due to information from Chinese quarantine agencies that ordered some eastern seaports. , To closely monitor and sanction companies with signs of illegal import, ie import for food.

CHS Inc., a US grain trading company, is under investigation, according to Bloomberg News.

Beijing’s oversight of soybean imports for use in food has been linked to soybean imports this year to record highs in China, and it expects these measures to help reduce surpluses. Supply in the domestic market.
However, China’s tight control of imports will have an impact on major exporters such as the United States and Brazil.

Soybean prices ended at 3,957 yuan ($ 582.08) a tonne at the Dalian Commodity Exchange, up 1.5 percent on the day, after rising 1.8 percent Friday, 6) – the strongest increase in over 1 month.

(Reuters)