The right of examination and approval is collected. China's soybean oil import policy is tightened.
Our reporter learned from insiders that at the "2010 meeting of Soybean Oil Import Enterprises" held yesterday, the Ministry of Commerce and the General Administration of quality Supervision, Inspection and Quarantine said that the issuance of import licenses for soybean oil from Argentina will be uniformly handed over to the Ministry of Commerce from provincial commercial organs at the original locality, and that China will inspect and quarantine soybean oil imported from Argentina in strict accordance with national standards.
Industry insiders said that the collection of examination and approval power means that China's soybean oil import policy has been tightened, which should be good news for domestic soybean oil processing enterprises. "first of all, it is helpful for domestic enterprises to fill this market space, and secondly, it also gives us an opportunity to better assess the demand of the domestic market." The relevant person in charge of Heilongjiang Soybean (Information, Market) Association told our reporter.
Statistics show that China imported 1.835 million tons of soybean oil from Argentina in 2009, accounting for nearly 40 per cent of the country's total soybean oil exports that year. Judging from previous data, Argentina has always been a major importer of soybean oil in China, importing more than the United States and Brazil in 2006 and 2007.
"if it was originally handled by the Provincial Department of Commerce, the online filing procedure will be fine without any restrictions." An industry source told our reporter that it is now subject to unified examination and issuance by the quota license Bureau of the Ministry of Commerce, and it has to be handled face-to-face in the administrative hall of the Ministry of Commerce. Analysts in the industry said that it is foreseeable that soybean oil imports from Argentina will decrease in the coming period of time.
However, some analysts pointed out that due to the limited scope and intensity of this policy, whether the relevant policies will continue to be introduced in the future is still worthy of further observation.
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