China offers to buy 1.25 million tonnes more soy from market

The Chinese government has offered to buy 1.25 million tonnes more of soy from the northeast producing areas by the end of June, said the State Administration of Grain Thursday (April 30).

The purchase prices will be RMB3,700/tonne, the same as earlier, said the administration in a statement published on its Web site.

Including the new purchases, the government has now issued plans to buy a total of 7.25 million tonnes of soy from the major producing areas since last year's harvest, it added.