The Grain Administration of Heilongjiang Province plans to procure an additional 2.5 billion kg of locally grown soybeans before the end of April 2009 in order to help stabilize soybean prices in the domestic market, sources reported.

The province, which began buying soybeans last fall, plans to hold soybean stock totaling 4.53 billion kg.

The state-owned Heilongjiang branch of China Grain Reserves Corp (Sinograin) is in charge of procurement and ensures that the soybean stock contains only newly produced soybeans.