Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/01/2020
Policy Category
Stocks
Policy Instrument
Market regulation
Description
From January 2020 to April 2020: Released 1 million tonnes of soybeans from state reserves. Reportedly, the measure was prompted by supply concerns amid low levels of commercial stocks following temporary slowdowns in imports.
Notes
CHINA market regulation: According to industry sources, since the start of the current yea, Chinas state-owned grain corporation Sinograin released 1 million tonnes of soybeans from state reserves to the countrys state-owned crusher Cofco. Reportedly, the move was prompted by supply concerns amid low levels of commercial stocks following temporary slowdowns in imports. On a separate note, unofficial sources reported that the Government was considering to add up to 10 million tonnes of soybeans to state reserves with a view to i) help shield domestic markets from potential supply disruptions linked to the COVID-19 pandemic, and ii) honour pledges to increase purchases of agricultural goods from the United States of America (see MPPU Jan.20 on the US-China Phase-one trade deal).
