May 19, 2009
China to procure additional one million tonne of soy by end-June
China plans to purchase an additional one million tonne of soy for state reserve from Heilongjiang Province, the country's largest soy production base, by the end of June, according to the Heilongjiang Grain Bureau.
This will be the Chinese government's fifth round of soy procurement with the earlier four rounds resulted in a total purchase of 7.25 million tonnes which was intent to stabilise the domestic grain market and protect the farmers' interest.
Heilongjiang Grain Bureau did not reveal the price for the temporary purchase.
