Within the conducted auction to sell the government's stockpile of corn from China has implemented 70% (153,145 thousand tons) from the proposed volume of grain at an average price of 1498 yuan (us$228,4) per tonne, according to Reuters.

This clarifies that the maximum purchase price amounted to 1,650 yuan per ton.

Recall that the Chinese government is trying to reduce excessively high corn stocks, which currently exceed the total annual consumption of grain in the country.

This auction became the first in the framework of the program of sales of corn from state reserves, during which plans to sell about 2 million tons of grain.