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Reserve Grain Helps Supply And Stability
Source: Xinhua |
December 10, 2010, Friday
|
Print Edition
Print Edition
CHINA state grain reserve released 8.6 million tons of grain on to the market from November 29 to December 3 to ensure market supply and stabilize prices, said the country's top economic planner yesterday.
The figure rose by 136,000 tons from the amount in the previous week, with market prices seeing small declines and trade shrinking visibly, said the National Development and Reform Commission.
The reserve included 1.8 million tons of corn, 4.5 million tons of wheat, 2.1 million tons of rice and 296,000 tons of soybean, it said.
Previous figures showed a total of 25.5 million tons of stockpiled grain and cooking oil had been released to the market since the end of October.
The NDRC said the reserve grain put on the market had helped in ensuring supplies and stabilizing prices.
Corn coming into the market last week was traded at 1,843 yuan (US$276) a ton, down 9 yuan from the previous week, and rice at 1,960 yuan a ton, down 1 yuan.
The figure rose by 136,000 tons from the amount in the previous week, with market prices seeing small declines and trade shrinking visibly, said the National Development and Reform Commission.
The reserve included 1.8 million tons of corn, 4.5 million tons of wheat, 2.1 million tons of rice and 296,000 tons of soybean, it said.
Previous figures showed a total of 25.5 million tons of stockpiled grain and cooking oil had been released to the market since the end of October.
The NDRC said the reserve grain put on the market had helped in ensuring supplies and stabilizing prices.
Corn coming into the market last week was traded at 1,843 yuan (US$276) a ton, down 9 yuan from the previous week, and rice at 1,960 yuan a ton, down 1 yuan.
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