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Minimum rice price raised to assist farmers
Source: Xinhua |
January 25, 2009, Sunday
|
Print Edition
Print Edition
CHINA'S top economic planner said it would raise the minimum state purchasing price for rice in major production areas by as much as 16.9 percent this year.
The move was aimed at protecting farmers' interests, keeping grain prices stable and boosting output as growers experienced higher costs than last year, according to the National Development and Reform Commission (NDRC).
The state purchasing price for japonica rice will rise 15.9 percent to 1,900 yuan (US$280) per ton this year, according to the NDRC.
In addition, prices for early and late indica rice will be 16.9 percent and 16.5 percent higher respectively at 1,800 yuan and 1,840 yuan per ton.
It is the biggest increase in grain purchasing prices since 2004, said Ding Jie, an official with the NDRC's price department.
In 2004, China started the practice of buying grain from farmers at a state-set minimum price when market prices drop below a protective price level in order to encourage grain production.
Yesterday's announcement before Chinese farmers kick off the spring planting season, came as the government tried to prevent grain growers' enthusiasm from being eroded by higher costs of fertilizer and other production materials.
China's grain output rose 5.4 percent year-on-year to a record 528.5 million tons in 2008, official data showed.
The move was aimed at protecting farmers' interests, keeping grain prices stable and boosting output as growers experienced higher costs than last year, according to the National Development and Reform Commission (NDRC).
The state purchasing price for japonica rice will rise 15.9 percent to 1,900 yuan (US$280) per ton this year, according to the NDRC.
In addition, prices for early and late indica rice will be 16.9 percent and 16.5 percent higher respectively at 1,800 yuan and 1,840 yuan per ton.
It is the biggest increase in grain purchasing prices since 2004, said Ding Jie, an official with the NDRC's price department.
In 2004, China started the practice of buying grain from farmers at a state-set minimum price when market prices drop below a protective price level in order to encourage grain production.
Yesterday's announcement before Chinese farmers kick off the spring planting season, came as the government tried to prevent grain growers' enthusiasm from being eroded by higher costs of fertilizer and other production materials.
China's grain output rose 5.4 percent year-on-year to a record 528.5 million tons in 2008, official data showed.
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