August 18, 2011


China to sell soy to major edible oil producers


China plans to sell four million tonnes of soy from state reserves to large edible-oil producers to bolster market supply, sources said Wednesday (Aug 17).


The sales will be open to major edible-oil makers including Yihai Kerry Group and state-owned COFCO Group, a COFCO official said. Yihai Kerry is the Chinese operation of Singapore-based Wilmar International Ltd.


Once the government completes the sales, only 1.4 million tonnes of state soy reserves will remain, according to an official from the China Grain Reserves Corp.

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