November 14, 2007

China's October corn prices up 22 percent on-year

China's corn purchase price jumped by 22 percent on-year to RMB73.02/50kg (US$9.82) in October, slightly lower compared to the previous month, according to the National Development and Reform Commission.

Wheat purchase price was RMB76.15/50kg (US$10.24 ), rising 9.71 percent on-year, similar to levels the previous month.

The weighted average purchase price of rice, wheat and corn in 25 major Chinese grain production provinces, regions and cities was RMB79.66/50kg (US$10.71 ) in October, rising 12.14 percent on-year.

Prices remained relatively unchanged compared to the previous month.