China to move 3 million tonnes corn, soy to consumption areas

The Chinese government will transfer a combined 3 million tonnes of corn and soy from producing areas in the northeast to consumption areas to ease the pressure of limited reserve capacity, several government departments said in a joint statement.

The government will move 1.63 million tonnes of corn and 1.37 million tonnes of soy, according to a statement published on the State Administration of Grain's Web site Tuesday (March 10).

The corn and soy were harvested in 2008, it added.

Since the 2008 harvest in October, China has offered to buy a total of 40 million tonnes of corn and 6 million tonnes of soy for reserves.