Notice on First Rotation of White Granulated Sugar Reserve in 2012/2013

By CnAgri2013-01-31 11:14:01 Print According to relevant stipulations of the “Administrative Methods on Central Sugar Reserve” and authorized by the State Council, a decision was made to rotate part of the white granulated sugar reserve by the means of auction. The details are as follows:
I. Principle
The rotation is conducive to ensuring the quantity, quality and storage safety of the reserve, and the principle is storage safety, keeping stability of the sugar market, saving cost and improving efficiency.
 
II. Organization and management
(a) The Ministry of Commerce is in charge of the rotation.
(b) Organization of the detailed rotation work is entrusted to Huashang Reserve Commodity Management Center by the Ministry of Commerce.
(c) Transparent price bidding is via the electronic trading system of Beijing Huashang Reserve Commodity Exchange Center.
 
III. Quantity, variety, time and venue
(a) The listed amount is 300,000 tons.
(b) The product is white granulated sugar.
(c) The auction is 9 a.m. – 5 p.m. on 26^th January 2013, the leftover shall be traded from 9 a.m. – 5 p.m. on each Friday till all is transacted. There shall be further notice if there is change of time or halt of rotation in case of any special event.
 
IV. Bottom price
(a) The bottom price is confirmed by the Ministry of Commerce and announced before the trading each time.
(b) The bottom price refers to the average railway station price (including tax) in Nanning, Guangxi the week before, the quality and trade of new and unconditioned sugar and price disparity.
 
V. Quality of listed white granulated sugar
 The white granulated sugar was produced from September to November in 2011 and was up to national 1^st grade level upon entering the depots.

From “China Sugar Market Monthly Report”