China will auction 1.5 million tons of old corn in early May

Introduction: Dow Jones Beijing, April 23 news: on Tuesday, according to Beijing insiders, according to the report of China's Ministry of agriculture, Jilin Province, China's largest corn planting area, will hold an auction in early May to sell 1.5 million tons of corn, aiming to reduce the huge corn inventory According to the report of the Ministry of agriculture, the auction will be the first one held in 2002 Most of the corn stocks owned by the government were produced from 1996 to 1997 and from 1999 to 2000 If corn is auctioned successfully, it will inevitably restrain the price rise of domestic corn in the domestic market, the report said According to people familiar with the situation, in recent weeks, the price of domestic corn in the Chinese market has shown a strong trend, mainly due to the increase in exports in recent months, but the price rise was blocked last week Corn prices in the domestic market are expected to remain stable in the coming weeks According to local industry insiders, as of April 23, the ex warehouse price of middle grade corn in Central Jilin Province was 960 yuan per ton (1 US dollar equals to 8.277 yuan), which was the same as a week ago According to statistics of China Grain and oil information center, the price of domestic corn in Guangdong Province and Fujian Province is 1100 yuan per ton, 20 yuan lower than that of last week, 1030 yuan per ton in Shanghai and 1040 yuan in Zhejiang Province, which is the same level as that of a week ago In Dalian port, Liaoning Province, the transaction price of corn is 1030 yuan per ton, while in Qinhuangdao port, Shandong Province, the price is 1020 yuan per ton, the same as before last week Aud according to the local industry insiders, according to the statistics of the General Administration of customs, in March, China exported 1.1 million tons of corn, and from January to March 2002, the total export of corn was 2.1 million tons, only 8.3% lower than that in 2001 According to the latest USDA forecast report, in 2001 / 02, China exported 4 million tons of corn By contrast, domestic grain analysts expect China's corn exports to total 6 million tons, or even 6.5 million tons, in 2002 AUd