China has int roduced an automatic import licence system for soybeans, requiring importers to apply for licences from China’s Commerce Ministry, a move that soy traders said could cause a minor disruption of trade.
The ministry issued a statement last month, adding soybean and rapeseed from Jan. 1 to a list of products requiring such licences, already including soyoil and chicken. The ministry stipulates that licences will be issued within 10 working days.
“We do not expect any disruption (of imports). It could cause delays for recently arrived cargoes, but no impact in the long term,” said one trader with an international trading house.