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

Latest data released by the State Administration of Grain and Material Reserves has shown that the total volume of autumn grain purchased by various grain operators across the country has surpassed 300 million tonnes so far, a relatively high level in recent years. Market prices of autumn grain have maintained a steady upward trend, with the characteristic of "better quality fetching better prices" becoming more prominent.

At present, the purchase of medium and late rice in the country 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 purchase period for autumn grain is largely concluded. Broken down 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 major grain-producing provinces — Heilongjiang, Henan and Hunan — 4.18 million tonnes of medium and late rice have been purchased at the minimum purchase price, a decrease of 2.92 million tonnes compared with the same period last year. Overall, the autumn grain purchase has proceeded in an orderly manner with smooth circulation.

Following 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. Prices of major grain varieties have kept rising steadily, with particularly strong demand and higher prices for high-quality rice, corn and high-protein soybeans.

Looking ahead, the State Administration of Grain and Material Reserves will adhere to the coordinated linkage of production, purchase, storage, processing and sales. It will focus on both grain purchase and inventory sales, promote the improvement of grain varieties and quality, and ensure that grain prices remain at a reasonable level.