September 8, 2010

China regulates delivery of reserve grain

China's State Administration of Grain, the grain authorities, on Monday (Sept 6) published a document urging grain storages to follow rules while delivering reserve grain to purchasers in time.

The document was jointly endorsed by the National Development and Reform Commission (NDRC), the top economic planner, the Ministry of Finance and the China Agricultural Development Bank, which grants policy loans to grain storages.

According to the document, reserve grain storages should implement strictly the sales contract in terms of the grain variety, amount and quality and organise the delivery of grain at a timely manner.

Grain storages, whether they are state-owned or private-run, will be removed of the licenses of policy grain storages if they disturb normal transaction, set up barriers for the exit of grain from warehouses, charge extra fees or deliver sub-standard quality grain to purchasers.