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BEIJING, Jan 6 (Reuters) - The Chinese government reserve system is selling soyoil into a rising domestic market ahead of the holiday season and is expected to refill its reserves with imports, industry sources said on Tuesday.
It was unclear if Sinograin, which manages the central government reserves, has signed any import deals, but it was selling several hundred thousand tonnes of soyoil from government reserves to the domestic market.
A Sinograin official confirmed with Reuters that it was rotating reserves, but declined to identify the amount. One industry website said the company was selling 600,000 tonnes from reserves, but two sources said that figure was too high.