AreaChina (Mainland)

Commodity GroupOilseeds, oils and meals

CommoditySoybeans, soyoil rapeseed oil

Date01/06/2018

Policy CategoryStocks

Policy InstrumentPublic stockholding

DescriptionResumed public auctions of soybeans, soybean oil and rapeseed oil from state reserves.

NotesThis 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).