Sinograin's policy-based grain purchases reached 125 million tons in 2014

At the 2015 Central Grain Reserve Work Conference held in Beijing, it was learned that China Grain Reserves Corporation (Sinograin), as the entity entrusted by the state to implement the market-support policy, organized and completed nearly 125 million tons of policy-based purchases last year.

In response to the current situation of high inventory and considerable pressure on warehouse capacity, Sinograin stepped up the sale of policy-based grain starting in mid-May 2014, with auction sales covering rice, wheat, corn, soybeans and other varieties. According to statistics, in 2014 Sinograin completed a total of 52.14 million tons of policy-based grain auctions, the highest level since 2011. To focus on solving the shortage of storage capacity for purchases in Northeast China, Sinograin, in accordance with the state policy-based grain inter-provincial warehouse transfer plan, completed a concentrated shipment task of 10.15 million tons, setting a new record of 2.48 million tons shipped in a single month in the Northeast region. At the same time, the corporation stepped up warehouse construction in the Northeast region, with 102 new warehouse construction projects started during the year, totaling 4.55 million tons of construction scale.

⟦NL> In response to problems in past management such as too many and too scattered storage points, excessively long management chains and insufficient management penetration, Sinograin established a group management and control mechanism with three vertical lines covering people, finance and assets, and through regional integration reform, consolidated and reduced grassroots legal-person storage points and operating entities, merging the original 851 directly affiliated depots into 346 central depots. Zhao Shuanglian, chairman of Sinograin, said that Sinograin will continue to play its role as the main force in regulation and control, and under the principles of open standards, transparent review and phased release, welcomes central state-owned enterprises and other enterprises to participate in purchases as entrusted parties.