Tools: Save | Print | " target="_blank" class="style1">E-mail | Most Read
Auction aims to Lower Sugar Prices
Adjust font size:

The Ministry of Commerce says on last Thursday it will sell 184,000 tons of sugar from State reserves this month in two auctions in a bid to lower rocketing prices.

Half of the sugar reserves will be auctioned tomorrow and the other half on January 16, according to a press release from the ministry.

The lowest auction price will be 3,800 yuan (US$469) a ton. Sugar prices on the domestic market stood at around 4,500 yuan (US$556) a ton on December 30.

Sugar prices rose by 60 percent, or 1,000 yuan (US$123), in November compared with the same period of 2004.

The reserve to be auctioned is finished sugar processed by nine companies, which won the contract to refine the sugar from the National Development and Reform Commission (NDRC) and the Ministry of Commerce.

The ministry and the NDRC last month decided to process a certain amount of raw sugar from reserves into finished sugar as quickly as possible so it could be sold.

A ministry official said the recent sugar price surge was partly attributed to delays in the processing of sugarcane in south China.

This triggered market speculation and resulted in sugar producers becoming unwilling to sell their products as they waited for prices to rise.

Analysts predict the coming auction will have an immediate impact on soaring sugar prices, but the effect is unlikely to last as the country's increasing demands still outpace production.

The gap between demand and supply is about 1 million tons.

But Chen Xin, a futures analyst from Jinpeng Futures, said the auction is not good news for the new sugar futures.

The Zhengzhou Commodity Exchange is scheduled to start trading refined white sugar futures on Friday.

"A large amount of low-priced sugar on the market is not a good opening for futures trading," he said.

In the long term, he believes the trading of white sugar futures will help perfect China's market for the product, improve the pricing mechanism and help companies avoid risk.

(China Daily January 4, 2006)

Tools: Save | Print | " target="_blank" class="style1">E-mail | Most Read

Related Stories
Online Sugar Auction to Balance Demand
China to Become Big Sugar Importer
Sugar Security Reserve Brought to Attention
Sugar Price Rocketing, Immediate Fall Unlikely
Steep Sugar Prices Lead to State Auction
Futures Look Sweet for Sugar Traders
 
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號

主站蜘蛛池模板: 成人区人妻精品一区二区不卡视频| 久久久久久久99视频| 亚洲av无码久久忘忧草| 亚洲第一精品福利| 伊人久久大香线蕉亚洲| 亚洲宅男精品一区在线观看| 久久九九久精品国产免费直播 | 果冻传媒电影在线| 成人免费小视频| 国产精品亚洲四区在线观看| 嘟嘟嘟www免费高清在线中文| 亚洲国产精品免费在线观看| 中文字幕高清有码在线中字| 69女porenkino| 老师邪恶影院a啦啦啦影院| 欧美老妇与ZOZOZ0交| 把腿抬起来就可以吃到扇贝了| 国产精品亚洲专区无码不卡| 午夜精品久久久久久毛片| 亚洲av无码专区国产乱码不卡| 一区二区三区免费精品视频| 国产成人精品日本亚洲专区6| 男人j进女人p免费视频| 日本一卡精品视频免费| 国产精品视频yuojizz| 午夜成人理论福利片| 亚洲av无码片在线观看| fc2成年免费共享视频网站| 青青国产成人久久91| 欧美日韩国产在线人成| 好男人好资源在线影视官网| 国产农村乱子伦精品视频| 亚洲国产成人精品无码一区二区| 一区二区三区91| 色偷偷亚洲第一综合网| 欧美亚洲校园第一页| 天天5g影院永久免费地址| 啦啦啦手机完整免费高清观看| 久久青草国产免费观看| 99久久综合给久久精品| 香艳69xxxxx有声小说|