China sells 2,099,199 tonnes of wheat from state reserves

BEIJING: China sold 2,099,199 tonnes of wheat, or 52.16 % of the total offer at an auction of state reserves last week, the National Grain Trade Center said in a statement on Monday.

The average selling price was 2,365 yuan ($358.35) a tonne, the trade centre said.

Sales volumes at the auctions, which had declined earlier on falling corn prices and higher grains imports, have picked up again as feed producers kept stocking up on the grain amid soaring corn prices.

The table below shows the volume of wheat sold at weekly auctions from China's state reserves since June 22 this year.