China's cold chain logistics sector continued expansion in January-June

China's cold chain logistics sector continued to expand in the first half of this year with steady demand growth, reflecting an increase in both the value and volume of logistics services, according to official data released by China Federation of Logistics and Purchasing on Sunday.

In the first half of the year, China's total cold chain logistics value reached 3.22 trillion yuan (451.9 billion U.S. dollars), marking a 3.9 percent year-on-year increase. The volume of goods moved through cold chain logistics was 220 million tons, up by 4.4 percent compared with the same period of the previous year. The revenue from cold chain logistics also grew, totaling 277.9 billion yuan (39 billion U.S. dollars), a 3.4 percent rise year on year.

"Judged by the overall market performance, the cold chain logistics sector of China has basically maintained a stable development trend. This is mainly driven by the growth in consumption, which has led to a steady increase in cold chain logistics. As consumers' demand for higher-quality products rises, the demand for cold chain services is expected to increase as well," said Cui Zhongfu, vice head of China Federation of Logistics and Purchasing.

As of June 30, the total capacity of cold storage in China reached 237 million cubic meters, a year-on-year increase of 7.73 percent. In particular, 9.42 million cubic meters of new storage capacity has been added so far this year. In the first half of the year, the nationwide cold storage rental volume exceeded 29 million cubic meters, representing a year-on-year growth of over 8 percent.

China's cold chain logistics sector continued expansion in January-June

Grain enterprises across China have purchased 120 million tons of autumn grains recently, according to data from the National Food and Strategic Reserves Administration.

Provinces like Henan, Jiangsu, Heilongjiang, and Anhui have set up the minimum purchase price of middle- and late-season rice. Over 200 purchasing spots have been set up in these four provinces to facilitate grain farmers in selling their crops.

Currently the purchase of middle- and late-season indica rice in the southern region stands at around 40 to 50 percent, while in the northeast region, the purchase of japonica rice is around 20 percent. In the north and northeast China, purchase of corn stands at 20 percent to 30 percent, while that of soybeans is around 15 percent in northeastern region.

The average price of middle- and late-season rice is about 2.6 yuan per kilogram. With demand rising for animal feed, prices of corn and soybean are gradually recovering and stabilizing, boosting acquisition interest.

"Currently, the cumulative procurement of middle- and late-season rice at the minimum purchase price has exceeded 1.8 million tons, effectively stabilizing market expectations and ensuring reasonable grain prices," said Luo Shouquan, director of the grain reserve department of the National Food and Strategic Reserves Administration.

Autumn grain purchases across China total 120 million tons