13:16, 20.07.2009 — Новости
автор: OilWorld.Ru

DJ China Wheat Prices Mostly Stable, But Up A Bit In Some Areas (ENG)


BEIJING (Dow Jones)--Wheat prices in China's major producing areas were
mostly stable in the week to Monday but higher in some areas as traders
competed to purchase the crop.

  Prices in Zhoukou in Henan province were between CNY1,800-CNY1,810 a metric
ton, stable from a week ago.

  Prices in Huainan in Anhui province were between CNY1,780-CNY1,800/ton, up
CNY40-CNY60.

  Prices in Shijiazhuang in Hebei province were between CNY1,840-CNY1,920/ton,
up CNY20-CNY30.

  Most buyers were unwilling to raise their bids as wheat prices are already
higher than the minimum purchase prices set by the government while demand
remains weak.

  Trading was very light generally, as farmers were reluctant to sell their
wheat in expectation of higher prices due to higher input costs this year,
while traders and processing plants weren't actively buying.

  Wheat flour sales have been dwindling as it is difficult to preserve the
flour during the hot summer while demand is usually weak during the season,
said an executive with a wheat processor.

  Wheat prices in most areas have stabilized and enterprises think they will
stay at current levels for a while, according to a survey by the Chinese Grain
Network.

  Last week, the government sold 256,100 tons of wheat it bought under the
minimum purchase prices program in earlier years, or 17% of the 1.5 million
tons it planned to sell.

  The average price at the auctions was CNY1,804/ton, down CNY5 from a week
ago.

  Falling volumes sold during the government's auctions and lower auction
prices showed the appetite for wheat is sluggish.


  -Zheng Xiaolu contributed to this story, Dow Jones Newswires; 8610 6588-5848;
tracy.zheng@dowjones.com


  

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