American drought promoted grain purchase in China

By CnAgri2012-07-24 15:42:40 Print

American drought had an supportive effect on grain market, accelerating wheat purchasing progress.

Regarding on new wheat purchasing, the total purchasing amount of all kinds grain enterprises in major production provinces was 31.858Million MT, from which, 21.636 million MT was purchased by state-owned grain enterprises, amounting for 67.91% of the total.

Total purchasing volume from main production areas increased by 10.527million MT compared with same period of last years, of which state owned enterprises increased by 8.092 MT.

Besides, on 10th July, the total wheat purchasing amount in Henan province was 6.51million MT, up 4million MT. Of which, 3.99million MT was purchased at minimum price, 3.02million MT at market price and up 0.34million MT.

The total wheat purchasing amount of Xinjiang state owned grain enterprises was 6.51million MT, taking up 12.8% of purchasing plan, increased by 26000MT compared with same period of last year. Of which local state owned grain enterprises purchased 0.338million MT, taking up 28.2% of purchasing plan; Sinograin and Oil Corporation Xinjiang Sub Company purchased 46000MT, taking up 2.6% of purchasing plan.

From "China Grains Market Weekly Report"