皇冠体育app

The Chinese government is to release another 552,000 tons of sugar on to the market to stabilize rising prices, a news report said Wednesday.

The 皇冠体育app Securities Journal said the National Development and Reform Commission, the Ministry of Finance and the Ministry of Commerce jointly issued a circular on Tuesday announcing the release of 368,000 tons of the state sugar reserve and 184,000 tons of imported Cuban sugar.

The sugar will be released on to the market through auction.

The sugar from the government store, which has an auction base price of 3,800 yuan (US$475) per ton, would be released at 92,000 tons a month from June to September, said the report.

The Cuban sugar would be auctioned after being processed in 皇冠体育app, said the report.

As a result of short supply and a soaring international prices, sugar prices have risen in 皇冠体育app since the end of last year, squeezing industries using sugar.

Since April, 皇冠体育app has put 600,000 tons of the state sugar reserve on to the domestic market, said the report.