September 30, 2011

 

Chinese grain firms buy 53 million tonnes of new wheat
 

 

China's grain enterprises had purchased 52.675 million tonnes of new wheat in major producing areas as of September 20, the State Administration of Grain (SAG) said.

 

Of this, 34.12 million tonnes are purchased by state-owned firms, accounting for 65% of the total.

 

The purchase was done in the country's 11 wheat growing regions including Hebei, Shanxi, Jiangsu, Anhui, Shandong, Henan, Hubei, Sichuan, Shaanxi, Gansu and Xinjiang.

 

China's National Development and Reform Commission (NDRC), the country's top economic planner, announced Wednesday (Sep 28) that it will raise the minimum purchase prices for wheat in 2012 to boost grain output.

 

The minimum purchase price for white wheat in the country's major wheat-producing areas will be increased to RMB102 (RMB16) per 50 kg, up RMB7 (RMB1) from the 2011 price, while the minimum purchase prices for red and mixed wheat will both rise RMB9 (US$1.40) to RMB102 per 50 kg next year.

 

Wheat is one of China's major grains, which feeds its population of 1.3 billion people mainly with domestically-produced grains.

 

The China National Grain and Oils Information Centre earlier predicted that the country's wheat output this year would reach 116.79 million tonnes, up 1.4% over last year.