China’s Autumn Grain Purchases Exceed 300 Million Tonnes, Maintaining Stable Market

It has been learned from the State Administration of Grain and Material Reserves that, up to now, various grain operators across the country have purchased a total of more than 300 million tonnes of autumn grain, a relatively high level in recent years. The market price has maintained a steady upward trend, with the characteristics of premium quality fetching premium prices becoming more prominent.

It is understood that the purchase of medium and late rice in China has basically been completed, while the purchase of corn and soybeans in Northeast and North China and other regions is still in progress, meaning the peak autumn grain purchase period has largely concluded.

By variety, 103 million tonnes of medium and late rice, 189 million tonnes of corn and 12 million tonnes of soybeans have been purchased. In three provinces — Heilongjiang, Henan and Hunan — 4.18 million tonnes of medium and late rice have been purchased at the minimum purchase price, a year-on-year decrease of 2.92 million tonnes. The autumn grain purchase has proceeded in an orderly manner with smooth overall circulation.

Director of the Grain Reserve Department of the State Administration of Grain and Material Reserves stated that after the Spring Festival, the autumn grain purchase market has continued its previous active momentum. Various entities, including grain trading, processing and reserve enterprises, have actively entered the market to purchase grain. The prices of major varieties have maintained a steady upward trend, especially for high-quality rice, corn and high-protein soybeans, which have seen strong demand and high prices.

“In the next step, we will adhere to the coordinated linkage of production, purchase, storage, processing and sales, focusing on both grain purchase and inventory sales,” he said. “We will promote variety improvement and quality upgrading to ensure that grain prices remain at a reasonable level.”