The Snapshot
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China approved a series of GM corn and soybean varieties in December 2023.
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It is expected that China will increase GM hectares to 7% of corn area.
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China last year imported 13mmt, but in recent years has imported more nearly 30mmt in both 2021 and 2023.
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The US has increased the use of GM corn to over 90%
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GM corn varieties yield between 5.6% and 24.5% higher than conventional varieties.
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This analysis looks at the hypothetical scenario of China moving to GM corn more fully.
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The widespread adoption of GM corn in China could exceed the volume that China needs to import.
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This would impact the pricing of corn globally, which could flow through to wheat pricing.
