Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Agricultural products
Date
01/12/2020
Policy Category
Consumption and marketing
Policy Instrument
Market regulation
Description
Released a draft law aimed at ensuring national food security and reforming the organization of the countrys 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.
Notes
CHINA public stockholding: Reflecting growing food security concerns, on 3 December, Chinas National Development and Reform Commission (NDRC) published a draft law aimed at ensuring national food security and reforming the management of the countrys strategic grain reserves. The initiative comes after a marked rise in the Governments grain purchases especially of maize and soybeans in 2020 (see also MPPU July20). 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.