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Breaking News-China buys soyoil, beans for it reserves-trades

Posted by Flora Sawita Labels:

BEIJING, July 22 (Reuters) - China has bought about 400,000 tonnes of soyoil and up to 1 million tonnes of soybeans for its reserves, in an effort to further dampen domestic prices and keep inflation in check, traders said on Tuesday.Expectations that the purchases would be soon followed by sales from the reserves pushed down edible oils futures in China on Monday and Tuesday.

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