(Yicai Global) Sept. 10 -- Chinese feed producer firm Dabeinong Technology will work on introducing genetically modified soybeans in Argentina on a commercial scale.
Authorities in the South American nation have released a public consultation on the country's first GM soybean strain developed by Beijing-based Dabeinong Tech, according to Science and Technology Daily, the official newspaper of China's science and technology ministry.
If the company can achieve large-scale commercial planting, it would then apply for import permissions to sell them back home in China which is the biggest market for Argentinian soybeans. Dabeinong chose to export its technology outside of China due to regulatory restrictions on the commercialization of GM products domestically. The firm has invested a significant amount in the technology and introducing it overseas serves as a good way to achieve profitability as early as possible.
"Just like Huazhong Agricultural University's GM rice gained recognition in the US for being safe and edible, the possible commercial planting of Dabeinong's soybeans is good progress," said Jiang Tao, a senior engineer at the Chinese Academy of Sciences' Institute of Genetics and Developmental Biology.
"Chinese biotechnology and products are competing well with international genetic transformation firms for market share," he added.
Dabeinong will provide herbicide-resistant GM seed technology to Argentina-based seed producer Bioceres. They will be planted and promoted in local farms and channels in Latin America after successful development.
The company will not receive an official planting license until the related products have been signed off by the Argentine Agriculture Minister, which isn't expected happen until mid-November at the earliest.
Editor: William Clegg