AreaChina (Mainland)

Commodity GroupOilseeds, oils and meals

CommoditySoybeans

Date01/07/2013

Policy CategoryStocks

Policy InstrumentState reserves

DescriptionResumed release of state soybean reserves set to resume.

NotesCHINA – 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).