State grain reserves auction opens in January, four major varieties totalling 15 million tonnes

The reporter recently learned from the State Administration of Grain that relevant departments will hold a special national policy grain competitive bidding session in Anhui from January 6 to 8, 2015, auctioning four major varieties of state reserve grain: wheat, japonica rice, indica rice and corn.

It is understood that the varieties and quantities in this auction are respectively: 2 million tonnes of wheat, 4 million tonnes of japonica rice, 4 million tonnes of indica rice and 5 million tonnes of corn. The buyers participating in the competitive bidding are: enterprises that meet the conditions stipulated in the current relevant national policy grain trading rules (namely the 4 trading rules for wheat, northeast japonica rice, paddy rice and northeast corn) or enterprises submitted by the relevant national departments for this special competitive bidding session.

The grain departments require that the quantity limit that each buyer may bid for is: wheat must not exceed 100,000 tonnes, japonica rice must not exceed 200,000 tonnes, indica rice must not exceed 200,000 tonnes and corn must not exceed 200,000 tonnes. For this special trading session, the quantity of wheat purchased by buyers is not subject to the restrictions required by the relevant provisions on wheat daily processing capacity in the wheat trading rules.

The announcement shows that the delivery period for each concluded japonica rice contract is before April 30, 2015 (including the 30th, the same below), and the payment delivery time is before March 15, 2015; the delivery period for corn is before May 31, 2015, and the payment delivery time is before April 15, 2015; the delivery period and payment delivery time for each concluded wheat and indica rice contract shall be implemented in accordance with the relevant provisions of the trading rules.