Soybean delays to hit December deliveries to China: analyst

Greater scrutiny of soybean cargoes entering into China is having less of an impact than initially thought, according to China-based analysts Cofeed, who claimed that while December shipments are likely to be delayed, exports will still total 98 million mt.

“Rumors has it that about 20 vessels loaded with soybeans will be affected, [but]… the impact is not so serious as most soybean deliveries have been going smooth, and only a few is delayed."

Ships continue to be held up in China following orders from the ministry of agriculture to step up inspections after GMO soybeans were found in the food chain.

However, the move by the agriculture ministry has angered some importers and buyers of soybean, who claim the inspections are often frivolous.

“Even (state-owned) Cofco have applications rejected. This is only action by the ministry of agriculture and they changed the rules suddenly and without advance notice. I think the issue will soon be settled as it is not necessary,” one buyer said.

Sources claim that some cargoes are being halted and rejected for clerical errors, such as differing contact details.