May 21, 2004

China To Sell 200,000 MT Wheat From State Reserves May 28

Tianjin in northern China will auction around 200,000 metric tons of imported wheat from state reserves on May 28, according to the official notice of Tianjin Grain and Oils Wholesale Market.
 
China Grain Reserves Corp, or Sinograin, authorized Tianjin Grain and Oils Wholesale Market to sell the state-owned wheat, all imported from Canada in 1999, according to the notice, posted on the market's Chinese-language Web site, http://www.tjgrain.com.
 
It will be the second wheat auction held by Tianjin this year. In a mid-March auction, Sinograin sold 200,000 tons of imported wheat from state reserves. The average price was slightly higher than 2,000 yuan ($1=CNY8.277) a ton.