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LatinNews Daily Report - 11 June 2013

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Brazil - In Brief

ECOMOMY | China allows imports of GM soya beans from Brazil. On 10 June China agreed permit imports of three varieties of genetically-modified (GM) soya beans from Brazil. The announcement was made by Brazil’s agriculture minister, Antônio Andrade, during a visit to Beijing. The varieties authorised are Intacta RR2, designed by Monsanto to protect crops against the Helicoverpa caterpillars, along with CV127 and Liberty Link, which are more resistant to herbicides. Helicoverpa caterpillars have been a special concern for Brazilian authorities due to their rapid spread through the states of Mato Grosso and Bahia. The Helicoverpa was the main plague affecting last year’s crop, contributing to a 12.3% year-on-year fall in the production of soya beans last year. This year, the Brazilian authorities forecast a record soya crop of 81m tonnes, a 23.3% annual increase. China is the biggest customer for Brazilian soya beans. Minister Andrade said Brazilian producers were anxiously awaiting the Chinese approval, ahead of the new harvest comes in.