November 30, 2012

 

China grain operators purchase 30 million tonnes of grain

 

 

About 30 million tonnes of autumn grain have been acquired by China's grain operators by November 25.

 

Prices of some grain crops have seen seasonal declines. To protect farmers' interest, the country has already started the state purchase and reserve programme in Inner Mongolia Autonomous Region, Anhui and Heilongjiang provinces.

 

By November 25, the grain enterprises had bought 12.18 million tonnes of corn in major producing areas, up 1.52 million tonnes on year. However, soy purchases dropped 323,000 tonnes from the year earlier time to 480,000 tonnes as farmers were reluctant to sell given a slump of output this year.

 

Meanwhile, grain companies had purchased 12.67 million tonnes of middle and late-season rice by then, down 303,000 tonnes on year, but the non-glutinous rice procurement gained 1.08 million tonnes to 5.59 million tonnes.