May 19, 2012

China's state reserves to sell 600,000 tonnes soy

The state reserves of China will sell 600,000 tonnes of soy next Thursday (May 24), the China National Grain and Oil Trade Center stated in its website last Thursday.

The reserve soy are stored in the Inner Mongolia Autonomous Region and the provinces of Hebei, Heilongjiang, Zhejiang, Jiangxi and Shandong.

The move is aimed to stabilise the domestic edible oil prices and in the meantime spare more storage room for new soy crops.