November 4, 2008


China's grain prices to increase on rising demand

China's grain prices will rise steadily in the following years due to growing demand and limited land resources, said an official with the National Development and Reform Commission (NDRC).


China's grain output will keep growing this year to fulfill a production increase in five consecutive years, the official said. China's production capacity of corn, wheat and rice are able to meet the domestic demand, but 60 percent of soy and soy oil are imported.


China will strive to maintain the current soy import volume to save more water and land resources for other farm products, the official said.


The Chinese government has launched a series of policies to promote agricultural development. Farmers' income has increased an average of 7.1 percent per year in 30 years and is expected to double by 2020.

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