Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans, maize
Date
01/10/2017
Policy Category
Stocks
Policy Instrument
Public stock policy
Description
Suspended, from end October 2017, public auctions of old-crop maize and soybeans from state reserves, with a view not to interfere with the marketing of the new 2017/18 crop.
Notes
In October 2017, out of a total volume of 253 444 tonnes of soybeans offered for sale from state reserves, only 160 tonnes found a buyer. Reportedly, the 2013 crop soybeans achieved an average price of CNY 3 070 per tonne (USD 464). As of 1 November, state auctions were suspended so as not to disrupt marketing of the new 2017/18 crop.
