November 7, 2008
China to increase minimum purchase price for wheat
China will greatly increase the minimum purchase price for wheat and offer subsidies for the purchase of seeds and farm equipment next year, said the National Development and Reform Commission (NDRC).
In the new crop season of 2009, China will increase minimum purchase prices for white, red and mixed wheat by 13 percent, 15.3 percent and 15.3 percent, respectively, to RMB 0.87 per kg, RMB 0.83 per kg, and RMB 0.83 per kg.
The measure will increase farmers' income and boost rural consumption to stabilise agricultural development, said a NDRC official.
