September 20, 2010

Chinese grain reserves see better quality

The quality of grain in China's central grain reserves has improved a lot in the past decade, said Bao Kexin, general manager of China Grain Reserve Corporation (Sinograin), a state-owned company authorised by the government to manage and operate national grain and oil reserves.

Bao made the remarks Thursday (Sep 16) at a seminar commemorating the 20th anniversary of the introduction of the grain reserve system in China.

Sinograin completed the purchase of 260 million tonnes of grain and edible oil at the government-set minimum purchasing price from 2005 to 2008. It sold 170 million tonnes of the grain and edible oil reserve via auctions during the period.