January 2, 2008

China sets quota on grain powder exports to ensure domestic supply

China announced a temporary quota policy on the export of corn and wheat powder on January 1 to maintain adequate domestic supply.

The adjustment targets to curb grain exports, buoyed by rocketing international prices, and stabilize domestic food prices in China, according to the Ministry of Commerce.

The period of the policy is yet to be decided by the demand and supply trend of related domestic markets, the ministry said.