Economy

China to auction 250,000 tons of sugar reserves

(Xinhua)
Updated: 2011-05-28 13:38

BEIJING - China will auction 250,000 tons of sugar from state reserves on May 31, with the starting price set at 4,000 yuan ($615) per ton, the country's Ministry of Commerce announced Friday.

Related readings:  China to sell sugar reserves to make up possible short supply  China to auction State sugar reserves to curb price rises  Sugar stockpiles released to stem price hikes

It will be the government's fifth auction of reserve sugar produced during the 2010-2011 crushing season, aiming to ensure market supply and stabilize prices.

In the previous four auctions, China sold 760,000 tons of reserve sugar.