BEIJING, Jan 17 (Reuters) – China sold 501,283 tonnes of wheat, or 100% of the total offer put up for auction on Jan. 12, said a statement from the National Food and Strategic Reserves Administration.
The grain, targeted only at milling plants, was sold at an average price of 2,713 yuan ($427.43) per tonne.
The sale followed an auction from the reserves a week earlier where 506,568 tonnes of wheat, also 100% of the total offer, were bought out by millers.
($1 = 6.3472 Chinese yuan renminbi)
(Reporting by Hallie Gu and Dominique Patton; Editing by Christopher Cushing)
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