11:16, 13.07.2009 — Новости
автор: OilWorld.Ru

DJ China Wheat Prices Rise As Farmers Hold Out For Higher Prices (ENG)


BEIJING (Dow Jones)--Wheat prices in China's major producing regions rose in
the week to Monday, with farmers in some producing areas still holding out for
higher prices.

  "Farmers have generally not been very happy with new wheat prices, so some of
them have been holding back stock from reaching the market," said Gao Yanrong,
research manager for Dalu Futures.

  Wheat prices in Buyang, in Anhui province, were at CNY1,830 a metric ton, up
about CNY50 from a week earlier, said an analyst from Shanghai JC Intelligence.

  In Zibu in Shandong, another major producing province, prices were at
CNY1,900/ton, up CNY40 from a week ago.

  In Hengshui, in Hebei province, new wheat prices were around CNY1,890/ton,
mostly flat from a week ago.

  The government is supporting prices with its 2009 wheat purchase program at a
minimum CNY1,740/ton.

  "The government's stockpiling program is expected to be larger this year,"
Gao said.

  The government has so far sold about 25% of the 1.49 million tons it plans to
sell.

  Still, the overall demand picture hasn't changed much, Gao said.

  Average auction prices stayed largely flat in the week to Monday, at
CNY1,820/ton in Anhui province.


  

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