China to stockpile sugar

Houston News.Net
Wednesday 8th February, 2012

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China will stockpile one million tonnes of sugar in an effort to stabilize prices and protect farmers' interests, the government said Wednesday.

The government will buy home-produced sugar for state reserves at a base purchase price of 6,550 yuan ($1,039) per tonne, the National Development and Reform Commission said.

The stockpiling work will begin Friday through a competitive bidding process, Xinhua reported.

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