November 27, 2008

China may increase wheat purchasing price over RMB0.2 in 2009


China is expected to lift the lowest purchasing price of wheat by more than RMB0.2 (US$0.029) a kilogramme, or 13 percent, in 2009, so as to increase peasants' incomes.


Prices of grains in the world market have witnessed a sharp drop since the start of July, due to the global financial crisis and increasing output, so it is harder to guarantee a stable grain prices in the domestic market, says the State Administration of Grain of China.


It said that it is a must to add the purchase and reserve of grains in the Chinese market, in a bid to guarantee grains safety in the nation under the complex international economic environment.

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