Date
23 October 2017

China raises state purchase prices for rice, Xinhua says

China’s top economic planner will raise the minimum state purchasing prices for rice in major farming areas by up to 3.3 percent this year, Xinhua reported Tuesday. The state will pay a minimum 2.7 yuan (44.3 U.S. cents) per kg for early indica rice and 2.76 yuan per kg for mid-and-late indica rice. The price for japonica rice will be 3.1 yuan per kg, the National Development and Reform Commission said. The commission said the move is designed to “protect farmers’ enthusiasm in growing grain and boost output.” China’s grain output is growing but is challenged by the rising demand of its billion-plus population, a shrinking area of arable land and pollution from pesticides and fertilizers.

– Contact HKEJ [email protected]

CG/SK

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