CORRECTED-UPDATE 2-China approves two new GMO crop varieties for import, renews 14 -ag ministry

  • Reuters
  • Commodities News
CORRECTED-UPDATE 2-China approves two new GMO crop varieties for import, renews 14 -ag  ministry

(Corrects name of Syngenta corn trait to Agrisure Viptera, not Duracade, paragraph 11)

* China approves two new GMO crops for import

* Move follows pledge to speed up review of biotech products

* Six more products still waiting for green light

By Dominique Patton and Hallie Gu

BEIJING, June 14 (Reuters) - China approved two new varieties of genetically modified (GMO) crops for import from June 12, after the world's top buyer of GMO soybeans pledged to speed up a review of biotech products as part of a recent trade deal with the United States.

The approvals of new GMO imports follow an agreement on protocols for shipments of U.S. beef to China that was also promised under the broader trade deal last month. new GMO varieties are Dow AgroSciences' DOW.N Enlist corn and Monsanto's MON.N Vistive Gold soybean, the Ministry of Agriculture said in a statement on Wednesday.

China does not permit the planting of genetically modified food crops but does allow GMO imports, such as soybeans, for use in its animal feed industry.

But getting a new GMO crop variety approved for import by China takes around six years, compared with under three in other major markets, forcing leading agrichemical players to restrict sales during China's review process.

In May, Beijing promised to speed up the evaluations of eight U.S. varieties of GMO crops by the end of the month under a trade deal with the United States. comments suggest Beijing could issue additional product approvals in coming months.

"We are aware of the latest updates of the approval process and are encouraged by the fast progress that the Chinese government has made," said a DuPont (NYSE: DD ) Pioneer DD.N spokeswoman.

"We look forward to more products getting approval."

DuPont Pioneer is awaiting approval for an insect-tolerant corn while Dow AgroSciences' Enlist soybean is also pending approval.

The agriculture ministry said it has also renewed import approvals for 14 other GMO varieties including Syngenta's MIR162 Agrisure Viptera corn, a Monsanto (NYSE: MON ) sugar beet and three Bayer (DE: BAYGN ) BAYE.NS rapeseed products.

The approvals are for a three-year period lasting to 2020, the statement said.

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