January 12, 2012
Sinograin helps stabilise China's 2011 grain market
China's state stockpiler China Grain Reserves Corporation (Sinograin) has played a key role in regulating grain market supply and stabilising consumer prices in 2011, sources said.
Sinograin totally sold out 32.23 million tonnes of reserve grain in 2011, including 7.63 million tonnes of paddy, 18.53 million tonnes of wheat, 3.54 million tonnes of corn and 2.53 million tonnes of soy. It also sold 1.4 million of cooking oil from state reserves last year.
Meanwhile, the stockpiler also timely replenished reserves, accumulatively purchasing 6.54 million tonnes of paddy, 11.8 million tonnes of corn, 220,000 tonnes of wheat, 2.94 million tonnes of soy and 3.37 million tonnes of rapeseed in 2011.
