China, Brazil reach understanding in soybean trade dispute

Sino-Brazilian soybean trade is expected to resume its smooth development momentum as the two sides have reached common understanding on solving a trade dispute,sources with the State Administration of Quality Supervision and Quarantine (SAQSQ) said Tuesday.

In the dispute, Brazilian soybeans exported to China were accused of being contaminated with a harmful fungicide known as carboxin.

At a meeting Monday with Brazilian farm officials, Chinese quarantine officials praised Brazil's efforts in solving the soybean safety problem after receiving China's notification and said the issue is only a technical one instead of a political one claimed by some foreign media.

Since May, China has banned Brazilian soy imports from 23 trading companies after finding fungicide-contaminated seeds mixedin with thousands of tons of soybeans grown for human and animal consumption.

Hoping to lift the ban that blocked about 90 percent of Brazil's soy product exports to China, the Brazilian authorities issued new regulations this month to ensure quarantine of soybeans and pledged such safety problem would never happen again.

Source: Xinhua