New round of sugar purchasing to start
Updated: 2013-05-20 15:15
China will start the second round of State sugar purchasing with a target of 300,000 metric tons, according to the National Development and Reform Commission, the country’s top economic planner, on its website.
Sugar produced after January this year will be bought for a price of 6,100 yuan ($953) per ton, the announcement said. The official purchasing period starts on Friday.
The first round of sugar purchasing occurred in December, with 1.5 million tons purchased.
There are plans to purchase 3 million tons this year, according to a government announcement in December.