December 31, 2010

China's reserve corn sales total 23.7 million tonnes

China sold 23.7 million tonnes of state reserve corn out of 47.5 million tonnes offered in auctions in 2010, according to Grain.gov.cn, a state-run researcher.

From January 5 to December 28, state reserves sold 7.7 million tonnes corn out of 20.2 million tonnes under the sales of the inter-province stock transfer programme, for an average price of RMB1,882 (US$284) per tonne, the researcher said.

From April 13 to December 28, the government also sold 16 million tonnes of the 27.3 million tonnes corn in the northeast regions for an average price of RMB1,662 a tonne, it said.