GM corn rejection unlikely to hurt market

China's rejection of US corn that contains an unapproved genetically modified strain is unlikely to cause major price fluctuations in the domestic or US markets, analysts said.

Quarantine authorities in four provinces have rejected 12 shipments, or 545,000 metric tons, of US corn this month, after detecting a genetically modified variant known as MIR 162 in them, the General Administration of Quality Supervision, Inspection and Quarantine said on Friday.

The quarantine authority first detected the genetically modified variety in a shipment of corn in mid-November, and later made two other notices about the blocking of the imports.