Circular on First Batch of Sugar Procurement for the Interim Reserve in 2012/13

By CnAgri2013-01-05 11:20:43 Print     Authorized by the State Council, the Government decided to procure 3 million tons of sugar for its interim reserve in the year in order to stabilize the price. Based on the principle that the procurement shall be carried out in batches, the first batch shall see procurement of 1.5 million tons. Details are as follows:
 
1. Quality and price

Domestic made white granulated sugar, produced after October 2012, and the quality should be 1^st grade or above according to GB-2006. The basic price is 6100 yuan (railway station price in Nanning, including tax), adding the miscellaneous cost to the depots that look after the reserve, then there is the ceiling settlement price for depot delivery.
 
2. Collection method and date

There shall be transparent bidding at Beijing Huashang Reserve Commodity Trading Market. The delivery amount should multiply 300 tons each time. There shall be cargo checking upon arrival to the depots.
 
Trading date and quantity: 800,000 tons on 27^th December 2012 and 700,000 tons on 22^nd January 2013.

From “China Sugar Market Monthly Report”