AreaBolivia

Commodity GroupOilseeds, oils and meals

CommoditySoybeans

Date01/06/2019

Policy CategoryTrade

Policy InstrumentExport policy/GMO policy

DescriptionDecided – with a view to raising the export competiveness of the country’s soybean industry – to i) derestrict up to 60 percent (or 1.6 million tonnes per year) of the country’s soybean exports, and ii) authorize the cultivation of two new genetically engineered soybean events.

NotesTo 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 country’s 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 country’s soybean industry, which accounts for 45 percent of agricultural land and dominates the country’s agricultural exports.