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Temporary Storage Price Cut: Why a Bumper Harvest Becomes a Worry for Farmers
In the Northeast production areas, the temporary storage corn purchase policy has been in effect for more than a month and a half. Data from the State Administration of Grain shows that as of December 10, cumulative temporary storage corn purchases in the Northeast production areas reached 31.9 million tons, including 5.14 million tons in Inner Mongolia, 690,000 tons in Liaoning, 680,000 tons in Jilin
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Industry Viewpoint: Corn Prices Fall in North China, Northeast Temporary Storage Policy Tightens
Recently, China's two major corn-producing regions, the Northeast and North China, have been operating around different themes. First, some enterprises in Heilongjiang were affected by tightened temporary storage standards, and purchasing was suspended for a time. With temporary storage purchases progressing too quickly, the state's attitude toward regulating the purchasing pace was clear.
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State Cut to Corn Temporary Storage Price Triggers Market Fluctuations
Recently, Hua Shujun, a large-scale corn grower in Gaojia Village, Songyuan City, Jilin Province, often goes to the state reserve warehouse near the village to inquire about corn purchase prices and intake conditions. Besides farming, Hua Shujun also runs a planting cooperative. This year, all of the more than 60 member households planted
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Corn temporary storage price cut leaves farmers and enterprises crying losses
Farmers cry compensation, enterprises cry losses, state cuts corn temporary storage price, rippling a pool of water. Reporter Wang Peilian, China Youth Daily (December 03, 2015, page 06). Recently, Hua Shujun, a large corn grower living in Gaojia Village, Songyuan City, Jilin Province, often goes to the national storage depot near the village to inquire about corn purchase prices and intake conditions.
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Sinograin makes every effort to do a good job in the temporary state reserve corn purchase in Northeast China
On December 1, the reporter learned from Sinograin Corporation that the state's temporary reserve corn purchase in the four northeastern provinces has been stable and progressing smoothly, and the purchase volume in the first month was twice that of the temporary reserve purchase in the same period last year. A relevant person in charge of Sinograin told the reporter that since November 1, the state has launched the 2015 temporary reserve corn purchase in the three northeastern provinces and one region.
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Temporary storage corn purchases significantly boost corn prices
The progress of temporary storage corn purchases has been very rapid, with an obvious effect on prices. At present, market prices in Heilongjiang and Inner Mongolia have already approached the temporary storage level, and parts of Jilin and Liaoning have already shown a premium over the temporary storage level. At present, price trends in Northeast China are basically led by temporary storage purchases. Because temporary storage purchases
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China's corn temporary storage price may continue to be lowered in 2016/17
According to industry sources, the Chinese government plans to lower the domestic corn purchase price for a second consecutive year, aiming to boost stagnant demand from the crisis-hit processing industry and draw down massive corn stockpiles. China's corn prices are the highest in the world, making it difficult for the domestic processing industry to stay afloat.
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National temporary corn purchase demand: overall purchasing and storage capacity can meet requirements this year
On November 19, at a news briefing on current grain-related policies jointly held by the National Development and Reform Commission, the Ministry of Agriculture, the Ministry of Finance, the National Grain Administration, the Agricultural Development Bank of China, and Sinograin, a relevant person in charge of Sinograin stated that overall it can meet this year's
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Notice on Raising the Temporary Corn Purchase and Storage Price for 2013
NDRC Economic and Trade Document [2013] No. 1289 To the Development and Reform Commissions, Departments of Finance, Departments of Agriculture, Grain Bureaus, Price Bureaus, branches of the Agricultural Development Bank, and Sinograin branches of Inner Mongolia, Liaoning, Jilin, and Heilongjiang provinces (autonomous regions): To protect farmers' interests and their enthusiasm for growing grain, and to promote the development of grain production, with the approval of the State Council, it has been decided to continue implementing the temporary corn purchase and storage policy this year in Northeast China and other main production areas, and to appropriately raise the temporary purchase and storage price level.
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Tighter Temporary Corn Storage Purchases, Prices Unlikely to Keep Rising This Year
As one of the country's important grain crops, corn prices have fallen sharply and continuously since the start of this year, with corn futures dropping all the way from a high of 2400 yuan/ton at the beginning of the year to a low of 1788 yuan/ton, as short sellers kept adding positions and the open interest in corn futures contracts repeatedly hit new highs
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