November 11, 2003

Prices of Corn, Grain Products in China To Rise By Up to 5% in 1Half 2004 
 

Prices of agricultural products in China, such as corn, grain, rice and oil, are expected to rise by up to 5% in the first half of next year, the China Business Post reported, citing a report from the Ministry of Agriculture.

The newspaper quoted the report as saying the supply of agricultural products is currently higher than demand, adding the prices will definitely rise, but not substantially.

There was no detailed explanation for the price hikes.

The ministry has submitted a report to the State Council, saying a warning system for fluctuations in the prices of agricultural product is in trial operations, which shows that the demand and supply for agricultural products will be adjusted according to market conditions, the report said.