COFCO responds to ten thousand tons of wheat deterioration: The Enterprise refuses to leave the warehouse

Zhongxin.com, May 8th, in response to media reports that “ten thousand tons of wheat have been forgotten for seven years”, the official microblog of China Grain Reserve Management Corporation issued a statement on the 8th, saying that in June, 2014, after the batch of wheat was auctioned and sold by relevant departments, Jinshuo company refused to go out of the warehouse because its own interests were not satisfied. The special working group sent by COFCO has arrived in Nanyang, Henan.

中储粮光武分库正在组织车辆将已经变质的小麦运走。 吴扬 摄COFCO Guangwu sub-warehouse is organizing vehicles to transport the spoiled wheat away. Photo by Wu Yang
The full text of the statement is as follows:

Statement on media reports that “ten thousand tons of wheat have been forgotten for 7 years”

On May 8, some media reported that “ten thousand tons of wheat had been forgotten for seven years and deteriorated, and the third grade grain officials of Henan province of grain storage of China”, the Henan branch of grain storage of China immediately understood the relevant situation, and the statement is as follows.

I. The 16200 tons of minimum purchase price wheat mentioned in the report, which has not been out of stock for a long time, was entrusted by Jinshuo company in 2010 by the Guangwu sub-Library of Nanyang dongzhanku, which belongs to Henan branch. Due to the severe disaster situation in some regions in 2010, the quality of some wheat purchased did not meet the national requirements. According to the deployment of relevant state departments, unified storage will be implemented and targeted sales will be organized to feed and industrial alcohol processing enterprises. In June, 2014, after the batch of wheat was organized by the relevant State departments for targeted auction sales, Jinshuo company refused to go out of the warehouse because its own interests were not satisfied.

2. As the entrusting party, Nanyang xiangxiangjian warehouse of Chinese grain storage filed a lawsuit to Xinye County People’s Court in September 2015 in order to complete this part of the auctioned grain outbound work as soon as possible and failed to coordinate with other parties, and in September, 2016, by the second trial of Nanyang Intermediate People’s Court, the final judgment was that Nanyang Dongxiang direct bank won the lawsuit. Under the circumstance that the direct bank performs the obligation of court judgment, Jinshuo company still does not cooperate with the outbound bank. For this reason, the application court of the direct database implemented enforcement according to law on April 8, 2017.

3. China Grain storage Henan branch will urge its affiliated enterprises to resolutely implement the effective judgment of the court of second instance, eliminate interference, speed up the disposal progress, complete the outbound task, and maintain the food security of the central authority.

4. The special working group sent by COFCO has arrived in Nanyang, Henan.

China Grain storage Henan Branch

May 8, 2017

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zhongxin.com, May 8th, in response to media reports that “ten thousand tons of wheat have been forgotten for seven years”, the official microblog of China Grain Reserve Management Corporation issued a statement on the 8th, saying that in June, 2014, this batch of wheat is sold through targeted auction organized by relevant departments.

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