January 20, 2011

China's Sinograin sells record grains, oilseed in 2010

China's state grain stockpile company, China Grain Reserves Corp (Sinograin), sold a record 83.7 million tonnes of grains and oilseed at about 180 auctions in 2010 to stabilise prices.

Grains and oilseed sold included rice, wheat, corn and soy.

In 2010, Sinograin purchased 24.58 million tonnes of wheat, corn and japonica rice and 10.28 million tonnes of soy and rapeseed to replenish government reserves.

In 2009, Sinograin bought about 90 million tonnes of grain and oilseed for building up reserves and sold about 60 million tonnes.

Sinograin in mid-2010 halted wheat and rapeseed buying due to high prices.