GMO corn auctions rebound in second half of December

State-run auctions of imported GMO corn reserves picked up in the latter half of December 2021 with offered volume rising from 55,000 tons in mid-December to nearly 148,000 tons last Friday.

Sale volume at auctions hit 88,446 tons last Friday reaching the highest level since December 17, data from stockpiler Sinograin showed. The clearance rate was nearly 60%.

This was the highest sale volume in the month just trialling the sale of 95,547 tons on December 14 last year.

During the whole month, Sinograin sold nearly 630,000 tons of GMO corn through nine auctions with a total offer of more than 1.11 million tons, achieving an overall clearance rate of nearly 57%.