CHINA will sell another 314,000 tonnes of imported soybeans from its state reserves on May 13, the National Grain Trade Center said on Friday (May 6).

The volume on offer next Friday is lower than the amount of beans released during previous weekly auctions at 500,000 tonnes.

The government might have reduced the volume because of low demand in the auction, indicating poor appetite from crushers for these beans, traders said.

Beijing has been releasing soybeans from the state reserves lately, which is aimed at alleviating tight supply in the domestic market.

Imported soybean arrivals in April and May were expected to pick up from March, easing tightness in the domestic market, traders said. REUTERS