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Wednesday, March 3, 2021

Brazilian Government Issues Rule Facilitating GMO Soy Imports

Brazilian agriculture ministry formally issued a regulation on Friday morning facilitating imports of genetically modified (GMO) soybeans from the United States.

The Brazilian agriculture ministry formally issued a regulation on Friday morning facilitating imports of genetically modified (GMO) soybeans from the United States.

In a statement, the ministry pointed out that the regulation conferred legal security to imports of grains from the United States “by recognizing the equivalence of genetically modified events approved in the United States and in Brazil.”

According to a forecast by Brazil’s oilseeds crushing group Abiove, the country is poised to import 1 million tons of soybeans this year, the highest volume since at least 2008. 

The government trade data revealed that so far this year, Brazil imported 528,000 tons of soybeans, mainly from Paraguay, the most since the year 2014.

While Brazil is the world’s top producer exporter of soybeans, local farmers have sold such huge volumes to top importer China that little was left for domestic consumption this year. The situation led to price rises for feed for animal farming and meatpacking operations in Brazil, and contributed to food price inflation.

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