June 6, 2012

China's state reserves to auction 600,000 tonnes soy

The state reserves of China have offered in an auction 600,000 tonnes of soy on Thursday (May 31), the China National Grain and Oil Trade Center stated.

The Chinese government sold out a total of 75,788 tonnes or 12.53% of the 604,634 tonnes of the reserve soy it offered at an auction on May 31, with the transaction rate down from that of 31.12% at the previous auction a week earlier when the similar volume was offered.

The serials of reserve soy auctions have played an important role in satisfying demand of domestic crushing enterprises and relieving oil crushers' plight.