Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans, soyoil rapeseed oil
Date
01/06/2018
Policy Category
Stocks
Policy Instrument
Public stockholding
Description
Resumed public auctions of soybeans, soybean oil and rapeseed oil from state reserves.
Notes
This year, public sales from state-hold inventories of soybean and soybean oil started in June, whereas those of rapeseed oil resumed after a first round in January and early February in July. As for soybeans and soybean oil, up to end-July, total volumes offered amounted to, respectively, 3.1 and 0.3 million tonnes, of which 33 percent and 19 percent, respectively, have found a buyer. The average price achieved for soybeans was CNY 3 008 (USD 437) per tonne, and CNY 5 001 (USD 727) per tonne for soybean oil. Regarding rapeseed oil, in the first round, total offers, the actual purchase rate and the average price achieved amounted to, respectively, 212 000 tonnes, 98 percent, and CNY 6 211 (USD 902) per tonne, whereas the corresponding figures for the month of July were 122 000 tonnes, 47 percent and CNY 6 039 (USD 877).
