October 13, 2009
China to hike minimum purchase prices for 2010 wheat crop
China will hike its minimum purchase prices for wheat in 2010 to encourage farmers to grow grains, said the government Monday (October 12).
The minimum purchase prices for wheat will be raised by RMB60 a tonne to RMB1,720 (US$251.79) -RMB1,800 (US$263.70)/tonne, said the State Council in a statement published on the government's Web site.
The minimum purchase price for rice will also be increased accordingly, while the government will continue to purchase corn, soy and rapeseed crop from farmers to protect their interests, it said.
