AreaChina (Mainland)

Commodity GroupOilseeds, oils and meals

CommoditySoybeans

Date01/11/2017

Policy CategoryStocks

Policy InstrumentPublic procurement & stockholding

DescriptionSuspended public auctions of soybeans from state reserves as of 1 November 2017, so as not to disrupt marketing of the new 2017/18 crop.

NotesIn October 2017, out of a total volume of 253 444 tonnes of soybeans offered for sale from state reserves, only 160 tonnes found a buyer. Reportedly, the 2013 crop soybeans achieved an average price of CNY 3 070 per tonne (USD 464). As of 1 November, state auctions were suspended so as not to disrupt marketing of the new 2017/18 crop.