New wheat purchasing in major production provinces reached 36.60Million MT in China

By CnAgri2012-07-31 13:09:30 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 36.60Million MT, of which, 25.498 million MT was purchased by state-owned grain enterprises, amounting for 70% of the total. 14.774 million MT wheat was purchased by Sino grain & Oil Corporation entrusted grain depots at the minimum purchasing price from six provinces including Henan and Jiangsu, taking up 40% of the total.

Early Indica: purchasing practice in main production area was launched in succession. Till 20th July, all types of grain purchasing enterprises purchased 0.426 million MT new production early indica in four main production areas which located in Jiangxi, Hubei, Hunan and Guangdong. Of which state-owned grain enterprises purchased 0.282 million MT, taking up 66% of the total. Supporting by rise of planting cost, increasing of minimum purchasing price and high level of old rice price, new early indica initial purchasing price was RMB125-135/MT, higher than the minimum purchasing price. It is predicted that there is less possibility to launch the minimum purchasing price pre-arranged planning.

Other agricultural products: 3.651 million MT rapeseeds which produced in 2012 was purchased by all types grain & oil enterprises in 12 rapeseeds main production areas. Of which 2.3248 million MT of state-reserved rapeseeds was purchased by Sino grain & Oil Corporation entrusted enterprises, taking 58% of the total. With launching of state-reserved rapeseeds policy, purchasing price was higher than the initial price. In current, rapeseeds purchasing price was about RMB5.0/kg in main production areas, basically kept stable.

From "China Grains Market Weekly Report"