Detail

China (Mainland)

Oilseeds, oils and meals

Agricultural products

01/12/2020

Consumption and marketing

Market regulation

Released a draft law aimed at ensuring national food security and reforming the organization of the country’s strategic grain reserves. Reflecting concerns about the management of public food reserves, the initiative is aimed at promoting the complementarity and efficient coordination of central and local reserves. Reportedly, local governments would be required to set up reserves of processed grains and vegetable oils in cities and regions where markets are prone to volatility.

CHINA – public stockholding: Reflecting growing food security concerns, on 3 December, China’s National Development and Reform Commission (NDRC) published a draft law aimed at ensuring national food security and reforming the management of the country’s strategic grain reserves. The initiative comes after a marked rise in the Government’s grain purchases – especially of maize and soybeans – in 2020 (see also MPPU July’20). Reflecting concerns about the management of public food reserves, the initiative aims at promoting the complementarity and efficient coordination of central and local reserves. The draft law introduces comprehensive guidelines on storage, usage and rotation of central, local and ‘social’ reserves. Reportedly, local governments would be required to set up reserves of processed grains and vegetable oils in cities and regions where markets are prone to volatility.