Area
Bolivia
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/06/2019
Policy Category
Trade
Policy Instrument
Export policy/GMO policy
Description
Decided with a view to raising the export competiveness of the countrys soybean industry to i) derestrict up to 60 percent (or 1.6 million tonnes per year) of the countrys soybean exports, and ii) authorize the cultivation of two new genetically engineered soybean events.
Notes
To assist soybean farmers affected by both adverse weather conditions and the recent decline in international soybean prices, the Government decided to i) derestrict up to 60 percent (or 1.6 million tonnes per year) of the countrys soybean exports, and ii) authorize the cultivation of two new genetically engineered soybean events. The new export regime will replace a permit system that required producers to sell soybeans at regulated prices until domestic demand was satisfied. Furthermore, banks were invited to review and possibly renegotiate the terms of outstanding farm loans. The measures aim at raising the export competiveness of the countrys soybean industry, which accounts for 45 percent of agricultural land and dominates the countrys agricultural exports.