China sells 23.7 million tons state reserve corn in 2010

China sold 23.7 million metric tons of state reserve corn out of a total of 47.5 million metric tons offered in auctions in 2010, according to data released by the China National Grain & Oils Information Center.
From Jan. 5 to Dec. 28, state reserves sold 7.7 million metric tons of corn out of 20.2 million metric tons under the inter-province stock transfer program. Another 16 million metric tons out of 27.3 million metric tons in the northeast regions were sold from April 13 to Dec. 28.
Reserves were sold for an average of 1,882 yuan per ton (through the inter-province stock transfer program) and 1,662 yuan per ton (in the northeast regions).