According to the requirement of National Development and Reform Commission of the People’s Republic of China、Ministry of Commerce of the People’s Republic of China Announcement 36, part of national repertory sugar will be launched as the auction form. The details are announced as follows:
The organization management of auction includes: (1)Auction management is charged by Ministry of Commerce; (2)Auction embodied organization and execution is charged by Chinese merchant repertory commodity management center; (3)Auction is processed publicly through Chinese merchant centre electronic net; (4)Commodities for auction are offered by Chinese merchant center.
The auction time is in the middle ten days of every month from July to October, The embodied time is 9am—5pm of 13th—15th July、17th—19th August、14th—16th September and 12th—13th October. There will be another notice if time changes caused by any special circs. The total amount of sugar for auction is 536 thousand tons, 150 thousand tons per month in July, Aug and Sep, and 86 thousand tons in October. Auction place is at Beijing HuaChu editable sugar deal market.
The auction base price is 2800yuan per ton. During the auction, national repertory sugar should be suspended if sugar price fall off under base price.
The related information can be found on www.mrm.com.cn