China's supply and marketing sector profit up 59% in H1

BEIJING-- China's supply and marketing sector saw its profit jump 59 percent year-on-year to 6.17 billion yuan ($959 million) in the first half of 2011, the All China Federation of Supply and Marketing Cooperatives (ACFSMC) said Monday.

The revenue totaled 868.01 billion yuan during the period, up 36.89 percent from last year, the ACFSMC said.

The ACFSMC attributed the growth mainly to the robust sales of chemical fertilizers, farm and sideline products, as well as consumption goods.

The country's supply and marketing cooperatives have played a vital role in ensuring supplies and stabilizing prices in the markets for chemical fertilizer, cotton and farm and sideline products this year, said ACFSMC.

With a history of more than 80 years, China's supply and marketing cooperatives have served as a platform for the distribution of agricultural products in rural areas.