Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/10/2013
Policy Category
Stocks
Policy Instrument
Sales suspension
Description
Suspended public sales in mid-October in preparation for procurement operations from the new harvest.
Notes
CHINA management of state soybean reserves: Between early August (when 2013 government sales commenced) and mid-October, an estimated 2.4 million tons of soybeans have been sold through public auctions (see also MPPU Sep.13). From September onward, most of the soybeans offered were from the 2010 harvest and sale prices ranged Yuan 40124082 per ton. According to market observes, the impact of state auctions on the countrys soybean imports has been limited as sales were mostly directed to crushers in central China or food companies that produce tofu and soy sauce. Reportedly, public sales were suspended mid-October as state-owned companies started preparing for procurement operations from the new harvest.
