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When grain companies are faced with purchase restrictions, grain storage and food price restraints
Zhuochuang Information Edited: 2011/3/18 10:50:13
Following the corn purchase restriction order, it is reported recently that China's four major grain central enterprises-COFCO, China Storage Grain, China Textile Group and Hualiang have received government instructions not to enter the market to collect grain, so as not to cause food prices to rise. "It is not a ban on purchases, it is mainly a purchase restriction in the field of corn, and it is mainly aimed at the deep processing enterprises of COFCO and COFCO." A senior person in the industry said that corn processing enterprises are basically owned by COFCO and COFCO or with foreign capital A joint venture was established. Therefore, the requirements for deep processing enterprises to purchase restrictions are mainly to communicate with these two central enterprises.
In addition to corn, related departments also have some restrictive requirements for the purchase of rice, wheat and other major food crop processing enterprises and traders. The heads of several rice processing companies have stated that as early as before the Spring Festival, the companies have been notified to verify their respective maximum inventory levels, and the purchase of raw grain must not exceed this inventory to avoid the phenomenon of grain hoarding. "These measures taken by the government are mainly to control the overall grain supply and demand relationship and stabilize grain prices." Said Ma Wenfeng, an analyst in the grain industry of Eastern Iger. According to data provided by Dongfang Iger, the current domestic supply and demand relationship for grain is not as tense as the market imagines. "In 2010, China's grain supply and demand balance reached 40%, which was more than 20% -30% of the previous years." Ma Wenfeng said.
Restrictions on purchases and deposits
"Before the Spring Festival, we have received instructions to require grain processing enterprises to determine a maximum storage capacity in proportion to their respective processing volume. The grain purchased by each enterprise cannot exceed this maximum inventory." Jin, Deputy Director of the Grain Bureau Wen Jun said. Jiamusi, located in the Sanjiang Plain of Songhua River, Heilongjiang and Wusuli River, is the main rice production area in Heilongjiang, and has a large number of rice processing enterprises.
In the field of corn, government restrictions were also issued at about the same time and were more stringent. In mid-January, all major corn deep-processing enterprises in Jilin Province, the main corn producing area, were notified and requested to suspend the purchase of corn within two months. Since then, similar purchase restrictions have been introduced in Liaoning and Heilongjiang provinces. According to a person in charge of a large-scale corn deep-processing enterprise in Jilin, relevant departments "greeted" by telephone. Since then, basically all deep-processing enterprises have stopped collecting grain. At the same time, many small processing companies have also been suspended from purchasing food loans.
For wheat, purchase restrictions were earlier. A person in charge of a large flour processing company said that as early as the end of last year, wheat targeted sales documents for processing companies had stipulated that companies participating in targeted sales "each purchase of wheat must not exceed the company's 15-day processing consumption (same day Multiplying wheat processing capacity by 15 days), the cumulative purchase amount in a month must not exceed 30 days of processing consumption (same day processing wheat capacity multiplying by 30 days) ", meanwhile," the buyer's bidding wheat must be shipped back to this enterprise for processing as soon as The flour is put on the market in a timely manner to ensure that all the flour is placed within 30 days after the expiry date of the contract to increase market supply. " "The main reason is to avoid companies buying and hoarding food in large quantities." Xu Dechun said. The above industry veterans said that in the field of deep processing of corn with the most restrictive purchase orders, the main body is mainly subordinate enterprises such as COFCO and COFCO, and there is also a saying that "central enterprise grain merchants are prohibited from entering the market for acquisition".
Unbearable high food prices
However, strict purchase restrictions did not reduce the price of corn. "Now the price of corn has reached more than 1,900 yuan per ton. It is expected that in another two months, the price of corn will reach 2000-2100 yuan per ton." People from the aforementioned corn deep-processing enterprises said that due to rising prices of labor and other means of production, and farmers selling at high prices The expected value is higher, and the price will only get higher and higher under the premise of constant demand for corn.
Jin Wenjun also believes that despite the implementation of the maximum inventory policy, with the rise in energy and other prices, the continued rise in rice prices is still expected. A person from another rice processing company also said that although the price of rice is at an all-time high, compared with other products, the price of rice is still relatively stable. And Ma Wenfeng believes that, whether it is corn, rice, or wheat, the purchase restriction measures are designed to control the overall supply and demand relationship of grain. However, the relationship between food supply and demand is actually not as tense as outsiders think, and stocks are even increasing. According to statistics, in 2010, China's grain supply and demand balance reached 40%, which once exceeded the data of previous years.
It has been previously reported that, in the past year, in order to cope with rising corn prices, China Grain has put 20-30 million tons of corn into the country's temporary collection and storage of corn and central reserve corn. The corn purchase restriction order also makes way for China's grain storage replenishment. Although its deep processing enterprises are restricted from entering the market for purchases, China National Grain, which is undertaking the task of the State Reserve, is currently acquiring corn in Northeast and North China. Ma Wenfeng said that the current corn reserves are actually relatively abundant, which should be at least 25 million tons. Those in the aforementioned flour industry also believe that the national wheat reserves are also abundant. The current rise in prices is largely caused by too much control in the hands of China National Grain Reserve. In Ma Wenfeng's view, high food prices actually have a lot of money in it. "Now there is a lot of hot money, and food is undoubtedly the best hype theme."

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