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People's Daily Online>>China Business

Central grain reserves turn into “market stabilizer”

(People's Daily Overseas Edition)

15:36, January 12, 2012

Edited and translated by People's Daily Online

In 2011, the China Grain Reserves Corporation actively complied with the orientation of China's macroeconomic control to purchase and sell grains in batches.

In the whole year, it sold 32.23 million tons of grains in 141 batches in auction and fixed-target ways, including 7.63 million tons of rice, 18.53 million tons of wheat, 3.54 million tons of corn and 2.53 million tons of soybeans. It also sold 1.4 million tons of edible oil in 13 batches in total.

In stabilizing the grain market, the corporation balanced the market supply and demand and has turned into a “market stabilizer.”

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