September 22, 2003



China's Liaoning To Auction 467,642 Tons Grain Friday

China's northeastern Liaoning province will hold an auction Friday to sell 467,642 metric tons of old grains from state reserves, according to a notice from the China Dalian Northern Cereals Exchange Monday.


Liaoning will hold the old grain auction in Dalian on September 26, for old corn, wheat and rice, said the notice.


The old grains offered for sale are from local grain warehouses within Liaoning. 396,466 tons of rice, 59,798 tons of corn and 11,378 tons of wheat will be on offer.


Buyers must be domestic feedstuff producers or ethanol producers, added the notice, with delivery period for the grains is set between Sept. 29 and Nov. 30, 2003.


China holds auctions each year to sell old grains from state reserve to free up space for new crop grains. The Chinese government is targeting to sell 15 million tons of old grains this year, Chinese traders have said.