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317 - 08/03 - Problems with Importing Soya Beans - China
We have been advised that the Chinese authorities may shortly start taking action to protect their home soya bean market.
These actions, which could include the halting of soya bean imports to the end of November, are anticipated to have a dramatic effect on the local market. During a recent steel market downturn, receivers in China were noted to be taking inventive measures to allow them to reject cargoes including obtaining of court orders for the scrutiny of load port documents for inaccuracies (which in some high-profile cases revealed the practice of back-dating of bills of lading).
Members should be aware of the possibility of increased risk of problems in the carriage of soya beans to China in the coming months, which may also create delays in berthing and operations.
Source of Information:
Danny Ng Hong Kong