News
12.01.2010
China to sell stockpiled grain, oils if needed to stabilize prices
China's National Development and Reform Commission announced on Sunday that grain and oils would be sold from local reserves if necessary in a bid to curb sharp price rise after heavy snowfalls in some areas.
The NDRC said in its announcement that the national reserves of major commodities such as grain, edible oils, meat, and sugar are adequate to ensure market supply.
The NDRC said in its announcement that the national reserves of major commodities such as grain, edible oils, meat, and sugar are adequate to ensure market supply.
Since the beginning of 2010, the strong snowfalls have caused traffic congestions and the following soaring prices of some agricultural products, especially vegetable prices.
Meanwhile, the NDRC required local authorities track the commodities prices to prepare for the release of reserves into market.
Xinhua
