February 21, 2011

China's January grain prices on moderate rise

Purchase prices of grain in China's major producing areas and retail grain prices in its major cities edged up slightly in January, with growth continuing to narrow.

According to the National Development and Reform Commission on Friday (Feb 18), purchase prices of wheat in major growing areas averaged at RMB2,028 (US$309)/tonne last month, down 0.92% from the previous month, while that of paddy rice and corn rose 0.94% and 0.48% respectively to RMB2,408 (US$367)/tonne and RMB1,804 (US$275)/tonne.

In the final 10 days of January, average retail prices of rice and flour increased RMB20 (US$3)/tonne over the same period a month earlier, with the growth RMB40 (US$6)/tonne smaller than the previous month and RMB100 (US$15)/tonne less than that in November of last year.