BEIJING: China has rejected five batches of US corn tainted with a genetically-modified (GMO) strain not yet approved by its agriculture ministry, a move that could discourage imports amid a growing domestic supply surplus.
Traders said the spectre of further rejections could prompt a sharp decline in new Chinese orders for US corn, dragging on global prices that have already dropped around 40% this year.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
