Economy

China to auction 250,000 tons of sugar reserves

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

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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.

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