June 9, 2009
China likely to sell 15 million tonnes of corn in market soon
The Chinese government is likely to sell 15 million tonnes of corn from its reserves soon, a person familiar with the matter said Monday (June 8).
The government may sell the corn to processors, mainly in the northeast, at RMB1,500 a tonne and subsidize the buyers by RMB100/tonne, the person, who declined to be named, told Dow Jones Newswires.
Several government agencies have agreed on the initial sales plan, which is subject to change as it needs final approval from the State Council, he said.
