Trade and markets
 

Detail

Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/07/2013
Policy Category
Stocks
Policy Instrument
State reserves
Description
Resumed release of state soybean reserves set to resume.
Notes
CHINA – state procurement and reserve policies - Soybean reserves: The release of soybeans from public reserves via public auctions is set to resume in August. Reportedly, a total of 3 million tons could be offered, all of which originating from domestic procurement operations conducted in 2010 and 2011. According to private sources, sales could be slow to take off as auction starting prices (probably ranging Yuan 4 200 – 4 600 per ton) are likely to exceed current import prices (reported at Yuan 3 500 per ton).