December 14, 2007

China government reserves of wheat, corn, rice sufficient

Domestic supply and demand for major agricultural products are balanced, with state reserves for grain being sufficient, a government official said on Thursday (December 13, 2007).

China can guarantee the price stability of grains, including wheat, corn and rice, Cao Changqing, director of the price department under the National Development and Reform Commission, said during an online question and answer session on the government's Web site.

China's rising food prices drove on-year growth in its consumer price index to an 11-year high of 6.9 percent in November.