June 18, 2009

China's rising state reserves of soy, rapeseed and cotton have only pushed up levels of imports, and haven't brought any benefits to local farmers, the official Xinhua News agency reported Wednesday (June 17), citing a senior Agriculture Ministry official.

"Rising imports of soy, rapeseed, and shrinking exports, already add (downward) price pressure on local market," said Qian Keming, who is also a member of Chinese People's Political Consultative Conference, an advisory body to the parliament, according to Xinhua.

Qian suggested at a CPPCC meeting that China should curb sugar imports and encourage exports to stabilize market prices, Xinhua reported.