November 23, 2007

China's 2007 grain harvest to hit 500 billion kg

China forecasts its 2007 grain yield to exceed 500 billion kilogrammes, the fourth consecutive year for China to reap impressive harvest, according to the Ministry of Agriculture.

The increase of grain yield in the country reached 66.85 billion kilogrammes from 2004 to 2006, which remedied the country's declining food yield.

The Ministry of Agriculture said the grain quality would be further optimized.

The wholesale price of wheat in China's Zhengzhou Grain Wholesale Market decreased by 0.8 percent. The price of high-quality wheat fell by 1.3 percent to US$220 per tonne.

The country's export of wheat stood at 78,000 tonnes in the first three quarters of 2007, declining by 83.5 percent from a year ago.

Meanwhile, the import amounted to 1.71 million tonnes, soaring 190 percent year-on-year.