DJ China To Buy 800,000 Tons Of White Sugar For State Reserves

Jan 05, 2009 -- China will buy 800,000 metric tons of white sugar for state reserves to protect farmers' and refineries' interests, according to an industry Web site.
The state reserves plan to buy 500,000 tons on Jan. 9 and 300,000 tons on Feb. 18 at CNY3,300/ton, which is higher than prevailing market prices, according to gsmn.com.cn, which posted a government document Sunday.

The Web site is affiliated with a sugar wholesale market under the management of Guangxi Zhuang Autonomous Region, one of China's major sugar producing regions.