China has set minimum prices for state procurement of rice products in 2017 to protect the interests of growers, according to the top economic planner. The National Development and Reform Commission said in a statement that the minimum price for japonica rice will be three yuan (44 US cents) per kg, down from 3.1 yuan per kg in 2016…Full Article: The Global Times Feb 2017
- In 2004, China began instituting minimum procurement prices for certain grain commodities.
- In 2013, rice procurement prices for indica and japonica reached approximately US$435 per MT and US$485 per MT. The price increases affected the regions/provinces of Liaoning, Jilin, Heilongjiang, Jiangsu, Anhui, Jiangxi, Henan, Hubei, Hunan and Sichuan, and Guangxi.
- In 2009, rice procurement prices were raised by 16.9%, the largest increase (at the time) since the price scheme began.
- In 2008, procurement prices for indica and japonica rice (China’s top rice varieties) totaled US$221 to US$235 per MT, respectively.
- In October 1996, China’s State Council published a white paper setting a policy of 95% grain self-sufficiency for the country.
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