(Yicai Global) March 1 -- Feedmaker Dabeinong Technology Group  has been given the green-light to start planting its genetically  modified soybeans in Argentina, representing the first time that a  Chinese firm has received a planting approval overseas for such a  product.

The product approved is weed-resistant and can adapt to the  local conditions in South America, the Beijing-based firm said in a  statement. 

China is the world's largest importer of soybeans and a major  buyer of such products from Argentina. Dabeinong is also applying for a  planting license in Uruguay for the same product and then aims to expand  into Brazil, the European Union, Japan, and South Korea.

The approval will boost the firm's potential for development in  the South American region over the next few years, Dabeinong added. 

Editor: William Clegg