In contrast to last year, the world is expected to be awash with corn for the foreseeable future, keeping prices in check. Argentina's 2012/13 crop is nearly all harvested.
China is seen by corn futures traders as a wild card in their attempt to pencil in specific price projections.
The Argentine corn was imported by China's state owned trading house COFCO and left Argentina about a month ago, said three Buenos Aires based grains trading sources, hours before Yauhar's statement came out.
BUENOS AIRES, Aug 6 (Reuters) China has approved its first shipment of genetically modified Argentine corn, Buenos Aires said on Tuesday, signaling that the Asian country may eventually import GMO crops from other producers like the United States. The cargo was already headed inland to be used as hog and chicken feed.
"For many years we have worked to gain access to the Chinese market. Today we did it with a cargo of very high quality corn," Yauhar said in a statement that named trading company Bunge as the exporter of the cargo.
Argentina is the word's No. 3 Air Max Grey Red White
corn and soybean exporter, as well as its top supplier of byproducts such as soyoil and soymeal. China is already a major buyer of Argentine soy.
There is broad scientific consensus that food on the market derived from genetically modified crops pose no greater risk than conventional food. However, advocacy groups argue the risks of GMO food have not been adequately identified. (Additional reporting by Sam Nelson in Chicago; Editing by Gerald E. McCormick, Jeffrey Benkoe and David Gregorio)
"The cargo has now been approved by the AQSIQ and the vessel has been discharged in China. The corn is officially imported and on its way to end customers," said a source at a major trading company in Buenos Aires, asking not to be named. bumper crop this season.
The market knew since May that Argentine corn was headed to China. But questions lingered as to whether it would be approved for entry by the AQSIQ, China's General Administration of Quality Supervision, Inspection and Quarantine.
Most Argentine corn Air Max Wright Ltd
Demand for corn fed pork and poultry has boomed in China as a Air Max Shoes Grey growing middle class can afford a higher protein diet.
is genetically modified. A small amount was allowed into China late last year as a test case under a China Argentina GMO deal signed in February 2012.
Benchmark Chicago corn futures fell briefly after Reuters reported on the shipment. Argentina competes for market share with the United States, the No. 1 world corn exporter. crop weather, ended the session mixed. farmers could eventually benefit from China finally opening the door to GMO corn Air Max Yeezy 2
China opens door to genetically modified corn imports
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