Tuesday, July 14, 2015

ecns [expanded by feedex.net]: Grain agency denies IOUs

ecns [expanded by feedex.net]

ecns

Grain agency denies IOUs
http://www.ecns.cn/2015/07-15/173138.shtml
Jul 15th 2015, 00:33




China Grain Reserves Corp (CGRC), which manages the State grain reserves, on Tuesday denied a report that it had issued IOUs to farmers, according to a statement posted on its website.


A report from news portal cnr.cn said early on Tuesday that a branch of CGRC in East China's Anhui Province owed hundreds of farmers a total of more than 25 million yuan ($4.08 million).


The branch conducted an investigation immediately after the report. Under the law, State grain reserve operators should not delay payment to grain sellers.




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