China to auction 370,000 tonnes of sugar with US$995.9 reserve price

Published: 09/13/2017, 7:32:27 AM

National Development and Reform Commission, Ministry of Commerce, and the Ministry of Finance announced the government will auction about 370,000 metric tonnes of sugar with a reserve price of CNY6,500 (US$995.9) per tonne during mid-September, reports Sugaronline.

The market had been abuzz during recent weeks regarding the potential auction but was waiting for confirmation.