Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans, soyoil, rapeseed oil, sunflower oil
Date
01/06/2020
Policy Category
Stocks
Policy Instrument
Market regulation
Description
From June 2020 to October 2020: Held several national auctions from state reserves covering soybeans and, to a lesser extent, soyoil, rapeseed oil und sunflowerseed oil. In the case of soybeans, total volumes sold by mid-October 2020 significantly exceeded total 2019 sales.
Notes
CHINA market regulation (government auctions): Domestic auctions of oilseeds and oils from state reserves resumed in June 2020 and led up to end-August to the sale of about 1.56 million tonnes of soybeans, 145 thousand tonnes of soybean oil, 104 thousand tonnes of rapeseed oil, and 6 thousand tonnes of sunflowerseed oil. Soybean sales consisted of about 700 thousand tonnes of domestically produced, non-GM beans and 900 thousand tonnes of imported GM beans, which, respectively, fetched an average per tonne price of CNY 5 057 and CNY 3 120 (USD 744 and 459).
