China Grain Reserves Corporation (Sinograin) is a state-owned enterprise which plays a key role in caring out state initiatives to ensure China’s food security and economic growth. Founded in 2000 with a registered capital of RMB16.68 billion, Sinograin has grown into one of the largest and most wide ranging grain storage and transportation corporations in China and is a leader in the research and use of innovative technology and equipment.
Guarantee the stocks are in bona fide quantities & good quality, that is, make sure the size of the depot determined by the central government be supported by bona fide physical stocks, to provide sufficient grain resources for national deployment; meanwhile, the grain stocks must conform to the national quality standards, and grains that expire the maximum storage period shall be replaced by new qualified grains.
Guarantee deployment in place & in time, that is, grain stocks can be transferred out of the depot in an highly efficient and rapid manner upon directions by the state, and launch the grains in the market strictly according to the requirements of the government’s macro regulation in terms of time, location, quantity and variety.
CSR activities include:
Assume the task of governmental protective purchase of grain across the nation
- In 2008, implemented the minimum purchase price as well as temporary collection and storage policy in 24 provinces and regions in China with total purchase of 83.5 billion catties wheat, 27.3 billion catties rice, 26.3 billion catties corns, 1.2 billion catties soybeans and 1.3 billion catties rapeseeds
- In 2007, launched the minimum purchase price proposal, with total purchase of 57.9 billion catties wheat and 1 billion catties glutinous rice
- In 2006, launched the minimum purchase price proposal, with total purchase of 81.4 billion catties wheat, 7.3 billion catties early rice and 9.8 billion catties middle & late rice.
- In 2005, initiated the minimum purchase price proposal for early rice and middle & late rice, with total purchase of 9.1 billion catties early rice and 13.5 billion catties middle & late rice
- From 2005 to 2008, Sinograin had purchased a total of 320 billion catties grain to support the market, which resulted in direct income increase by more than RMB 8 billion for grain-growing farmers, effectively protected their interest and held a large deal of grain resources for the country’s regulation of grain market
Assume the task of auctions to stabilize grain prices and increase market supply
- Sold 500 million catties central edible oil reserves by way of oriented marketing, designated processing and direct provision for the market; auctioned off 83.2 billion catties grain for administrative purpose; released 1.3 billion catties central grain & oil reserves into earthquake-hit areas in Sichuan Province in 2008
- Put into the market 0.4 billion catties central oil reserves, 1.2 billion catties central corn reserves, 74.3 billion catties wheat and 36.5 billion catties rice with minimum purchase prices in 2007
- Launched into the market 13.5 billion catties “minimum purchase price” rice and 10 billion catties “minimum purchase price” wheat in 2006
- From 2005 to 2008, Sinograin had sold a total of 220 billion catties administratively-purposed grain & edible oil, which effectively increased market supply and played an active role in suppressing the quick rise of grain prices
- Released 1.6 billion catties central soybean reserves in 2003
Assume the task of large-scale cross-regional deployment and balance of grain across the nation
- Accomplished 14.3 billion catties of shipment for cross-regional deployment in 2008. The branch companies in three provinces in northeast of China moved 13.4 billion catties grain by railway through “major railway clients” platform
- Completed 9 billion catties of shipment for cross-regional deployment in 2007. The branch companies in three provinces in northeast of China moved 8.4 billion catties grain by railway through “major railway clients” platform
- Completed 2.9 billion catties of shipment for cross-regional deployment in 2006. The branch companies in three provinces in northeast of China moved 7.6 billion catties grain by railway through “major railway clients” platform
- From 2005 to 2008, Sinograin totally transported 26 billion catties grain & edible oil for the administratively-purpose, which improved the structure of our country’s grain reserves, increased the grain storage in key distribution and grain-short areas, and laid a solid foundation for the continuity of national grain macro regulation policy
Assume national import and export task of grain & oil
- Utilizing international market and resources is an important means of balancing domestic grain supply and demand. According to the national plans, Sinograin assumes the tasks of acceptance and discharge of imported grain, port transportation and dedicated reserves as well as the purchasing and exporting of some of domestic grain types