Grain Food Purchase Contract
Exhibit 10.16
Contract No. [see attached schedule]
Party A (Purchaser): Fujian Grand Farm Foods Development Co., Ltd.
Party B (Seller): [see attached schedule]
Pursuant to the Contract Law of the People’s Republic of China, the Regulations on Sales and Purchases of Grain, and other relevant laws and regulations, and based on the principles of fairness, justice and good faith, Party A and Party B, through mutual consultation, hereby enter into the following contract for purchase of grain food:
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I.
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Quantity, Specifications, Price and Date of Purchase
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Name of Product
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Specifications
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Quantity
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Unit Price
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Total Purchase Price
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Date of Shipping
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[see attached schedule]
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Roughness ≥77%
Milled rice ≥ 60%
Impurities ≤1%
Water content ≤14.5%
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[see attached schedule]
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[see attached schedule]
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[see attached schedule]
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[see attached schedule]
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II.
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Grain Price
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1.
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The parties shall determine the lowest purchase price at the time of executing this Contract. The agreed lowest purchase price shall not be lower than the lowest purchase price set by the government. If the market price is lower than the agreed lowest purchase price, the purchase shall be based on the agreed lowest price; if the market price is higher than the agreed lowest purchase price, the purchase shall be based on the market price.
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2.
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The total purchase price shall be calculated based on the quantity purchased and the purchase price.
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III.
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Packaging
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The products shall be packed in bags. Part B shall pay for the packaging.
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IV.
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Method of Shipping
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1. Time and Quantity
(1) [see attached schedule]
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(2)
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If the delivery quantity is inconsistent with the quantity set forth in this Agreement, total payment shall be calculated based on the quantity delivered.
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2.
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Shipping
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(1)
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Party B shall ship the product to: ▇▇. ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ District, Putian City.
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(2) Party B shall pay for the shipping.
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V.
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Inspection upon Receipt
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The parties shall work together on the inspection upon Party A’s receipt of the product. Party A shall issue a proof of receipt when the inspection is complete. Any disagreement as to the inspection result shall be resolved based on the result of a quality inspection to be undertaken by the local grain food inspection organization of competent qualification. The responsible party shall be liable for the expense of such inspection.
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VI.
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Payment Method: [see attached schedule]
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VII.
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Breach of Agreement
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1.
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Either party shall be subject to a late fee equal to 1% of the contract price for each day that the party fails to deliver or to take delivery on time.
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2.
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Party A shall be subject to a late fee equal to 1% of the contract price for each day of late payment.
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3.
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Any inconsistency in the grain food shipped by Party B to the specifications set forth in this Agreement shall be resolved by the parties through consultation.
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VIII.
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Dispute Resolution
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Any dispute arising from the performance of this contract shall be resolved through consultation or negotiation by the parties, or be submitted to the people’s court.
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IX.
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Miscellaneous
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This contract shall become effective upon the parties’ signatures or corporate seals. This contract shall be executed into two duplicate originals with equivalent effect, and each party shall hold one duplicate original.
Party A: Fujian Grand Farm Foods Development Co., Ltd.
Party B: [see attached schedule]
Execution Date: [see attached schedule]
Schedule to Grain Food Purchase Contract
(per Instruction 2 of Item 601 of Regulation S-K)
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Contract No.
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Party B (Seller)
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Name of Product
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Quantity
(mt)
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Unit Price
(RMB)
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Total Purchase Price
(RMB)
|
Shipping Date
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Payment Method
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Execution Date
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TXLY09412
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Jiangxi Longyan Rice Co., Ltd.
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rice grain
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4,000
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2,400
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9,600,000
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6-30-2009
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immediate
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4-12-2009
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TXLY09623
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Jiangxi Longyan Rice Co., Ltd.
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rice grain
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4,000
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2,400
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9,600,000
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9-30-2009
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immediate
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6-23-2009
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TXLY091010
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Jiangxi Longyan Rice Co., Ltd.
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rice grain
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4,000
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2,400
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9,600,000
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12-31-2009
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immediate
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10-10-2009
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TL091225
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Jiangxi Longyan Rice Co., Ltd.
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rice grain
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4,520
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2,650
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11,978,000
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3-31-2010
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after delivery
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3-12-2010
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TL100312
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Jiangxi Longyan Rice Co., Ltd.
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Jiangxi rice grain
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3,200
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2,655
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8,496,000
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6-30-2010
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after delivery
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3-12-2010
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TL100506
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Jiangxi Longyan Rice Co., Ltd.
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Jiangxi rice grain
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3,020
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2,655
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8,018,100
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6-30-2010
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after delivery
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5-6-2010
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TL110115
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Jiangxi Longyan Rice Co., Ltd.
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Jiangxi rice grain
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550
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3,360
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1,848,000
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2-28-2011
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To be negotiated
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1-15-2011
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▇▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Fengju Cereal Factory
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rice grain
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6,000
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2,220
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13,320,000
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6-30-2009
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immediate
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4-3-2009
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▇▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Fengju Cereal Factory
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rice grain
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4,150
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2,220
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9,213,000
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9-30-2009
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immediate
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7-12-2009
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▇▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Fengju Cereal Factory
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rice grain
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6,730
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2,220
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14,940,600
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12-31-2009
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immediate
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10-15-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,250
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1,600
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2,000,000
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3-31-2009
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after delivery
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2-25-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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422
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1,420
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599,240
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5-31-2009
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after delivery
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4-28-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,250
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1,700
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2,125,000
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6-30-2009
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after delivery
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5-22-2009
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TJ0909619
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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▇▇▇▇▇ ▇▇▇▇ grain
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1,770
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2,300
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7,925,400
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8-31-2009
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after delivery
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6-19-2009
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Rice grain
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2,190
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1,760
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||||||
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TJ090812
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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Rice grain
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4,220
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1,800
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7,596,000
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10-31-2009
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after delivery
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8-12-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,450
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2,000
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2,900,000
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12-31-2009
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after delivery
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10-19-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,120
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2,146.67
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2,404,270
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11-30-2009
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after delivery
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10-30-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,100
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2,475
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2,722,500
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12-31-2009
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after delivery
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11-18-2009
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,580
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1,960
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3,096,800
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2-28-2010
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Letter of credit
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12-16-2009
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Northeastern rice grain
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2,000
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2,550
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5,100,000
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1-30-2010
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||||
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,080
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2,074.50
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2,240,460
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3-20-2010
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Letter of credit
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1-25-2010
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Northeastern rice grain
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4,400
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2,475
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10,890,000
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3-31-2010
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||||
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain
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1,880
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2,124.50
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3,994,060
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4-30-2010
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To be negotiated
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3-2-2010
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TJ100320
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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Rice grain
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1,040
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2,160
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2,246,400
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4-30-2010
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To be negotiated
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3-20-2010
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Northeastern rice grain
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4,200
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2,485
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10,437,000
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5-31-2010
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||||
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain (early harvest)
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760
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1,790
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1,360,400
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5-31-2010
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To be negotiated
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4-21-2010
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Rice grain (late harvest)
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1,200
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1,950
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2,340,000
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5-31-2010
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||||
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain (early harvest)
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118
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1,900
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224,200
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5-31-2010
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To be negotiated
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4-25-2010
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|
Northeastern rice grain
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1,000
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2,485
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2,485,000
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5-31-2010
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||||
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Northeastern rice
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2,120
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2,500
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5,300,000
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6-30-2010
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To be negotiated
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5-3-2010
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TJ100509
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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Rice grain (early harvest)
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2,200
|
1,898
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4,175,600
|
6-30-2010
|
To be negotiated
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5-9-2010
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TJ100603
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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Rice grain
|
983
|
1,974
|
1,940,442
|
8-31-2010
|
After delivery
|
6-3-2010
|
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▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ and Oil Trading Co., Ltd.
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Rice grain (late harvest)
|
5,200
|
1,960
|
10,192,000
|
7-31-2010
|
To be negotiated
|
6-8-2010
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TJ100708
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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rice grain (late harvest)
|
3,000
|
1,930
|
5,790,000
|
8-30-2010
|
to be jointly decided
|
7-8-2010
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TJ100809
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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rice grain (late harvest)
|
3,000
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1,930
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5,790,000
|
9-30-2010
|
to be jointly decided
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8-9-2010
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TJ10121801
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
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rice grain (late harvest)
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2,700
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2,270
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6,129,000
|
1-31-2011
|
To be negotiated
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12-18-2010
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TJ10122701
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
|
rice grain (late harvest)
|
2,700
|
2,300
|
6,210,000
|
1-31-2011
|
To be negotiated
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12-27-2010
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TJ11010501
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd
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rice grain (late harvest)
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4,900
|
2,355
|
11,539,500
|
2-28-2011
|
To be negotiated
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1-25-2011
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TJ11021501
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Fuzhou Hedong Cereal and Oil Trading Co., Ltd
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rice grain (late harvest)
|
1,150
|
2,360
|
2,714,000
|
3-31-2011
|
To be negotiated
|
2-25-2011
|
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txnz10101201
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Dehui Daoxiangtian Rice Co., Ltd.
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northeast rice grain
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3,600
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2,750
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9,900,000
|
1-31-2011
|
To be negotiated
|
10-12-2010
|
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txnz10122401
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Dehui Daoxiangtian Rice Co., Ltd.
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northeast rice grain
|
4,000
|
3,230
|
12,920,000
|
2-28-2011
|
To be negotiated
|
12-24-2010
|
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txnz11022401
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Dehui Daoxiangtian Rice Co., Ltd.
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northeast rice grain
|
3,900
|
3,000
|
11,700,000
|
3-31-2011
|
To be negotiated
|
2-24-2011
|
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txnz10121901
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Bayan Xinli Cereal and Oil Trading Co., Ltd
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northeast rice grain
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4,200
|
3,100
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13,020,000
|
1-31-2011
|
To be negotiated
|
12-19-2010
|
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txnz11010201
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Bayan Xinli Cereal and Oil Trading Co., Ltd
|
northeast rice grain
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3,300
|
3,230
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10,659,000
|
2-28-2011
|
To be negotiated
|
1-2-2011
|
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txnz11022201
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Bayan Xinli Cereal and Oil Trading Co., Ltd
|
northeast rice grain
|
2,400
|
3,010
|
7,224,000
|
3-31-2011
|
To be negotiated
|
2-22-2011
|
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txnz10100201
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Jilin Futian Cereal and Oil Trading Co., Ltd
|
northeast rice grain
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3,900
|
2,750
|
10,725,000
|
1-31-2011
|
To be negotiated
|
10-2-2010
|
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txnz10122201
|
Jilin Futian Cereal and Oil Trading Co., Ltd
|
northeast rice grain
|
3,700
|
3,230
|
11,951,000
|
2-28-2011
|
To be negotiated
|
12-22-2010
|
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txnz11022001
|
Jilin Futian Cereal and Oil Trading Co., Ltd
|
northeast rice grain
|
3,400
|
3,000
|
10,200,000
|
3-31-2011
|
To be negotiated
|
2-20-2011
|