State corn purchase period extended

The Chinese State Administration of Grain announced on May 7 that it will extend the state corn purchase period for another month this year because of the harvest delay caused by excessive snow and rain since autumn.

The yearly state purchase lasts six months every year, and that was supposed to end April 30 this year. But due to the weak market demand and factors such as the recent bird flu, farmers need more time to sell their harvest to the State, the administration said.

It therefore decided to extend the purchase period for another month, ending on May 31, according to its statement.