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China sees 8th year of rising grain harvest
Source: Agencies |
September 30, 2011, Friday
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Print Edition
CHINA'S grain harvest will post its eighth consecutive increase this year but consumers will still face moderate price rises as supplies struggle to keep pace with growing demand.
There is global interest in China's grain harvests because a failure to satisfy domestic demand could force the country to import some grains.
China will produce more than 550 million tons of corn, rice and other grains this year - the eighth straight year of higher output, Vice Minister of Agriculture Chen Xiaohua said at a news briefing yesterday in Beijing.
Government subsidy programs that guaranteed farmers would be able to sell their grain were responsible for the harvests, he said, and also credited generally favorable weather despite a harsh drought in the southwest that affected output there.
He said moderate price hikes for grains were still expected due to higher farm costs, growing meat consumption which is boosting demand for feed grain, and international market forces.
"Grain prices will go up moderately due to rises in the cost of production but the rise will be limited," Chen said, without giving specifics.
China's inflation hit 6.2 percent in August, driven by a 13.4 percent jump in food prices.
That was down from July's 14.8 percent, but still uncomfortably high for a country where the poorest families spend half their incomes on food.
An early spring drought in China's northeast had sparked international concern, and excitement among grain traders, that China could tap the global market for additional wheat or corn.
There is global interest in China's grain harvests because a failure to satisfy domestic demand could force the country to import some grains.
China will produce more than 550 million tons of corn, rice and other grains this year - the eighth straight year of higher output, Vice Minister of Agriculture Chen Xiaohua said at a news briefing yesterday in Beijing.
Government subsidy programs that guaranteed farmers would be able to sell their grain were responsible for the harvests, he said, and also credited generally favorable weather despite a harsh drought in the southwest that affected output there.
He said moderate price hikes for grains were still expected due to higher farm costs, growing meat consumption which is boosting demand for feed grain, and international market forces.
"Grain prices will go up moderately due to rises in the cost of production but the rise will be limited," Chen said, without giving specifics.
China's inflation hit 6.2 percent in August, driven by a 13.4 percent jump in food prices.
That was down from July's 14.8 percent, but still uncomfortably high for a country where the poorest families spend half their incomes on food.
An early spring drought in China's northeast had sparked international concern, and excitement among grain traders, that China could tap the global market for additional wheat or corn.
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