China is stepping up the purchase of autumn grain, with companies in the country's major grain-producing areas purchasing over 40 million tons of grain so far, data from the National Food and Strategic Reserves Administration showed on Friday.
The planting areas of this year's autumn grain grow steadily and the per-unit yield of grain increases significantly, which ensures most provinces and regions in China see higher autumn grain output.
Middle- and late-season rice are sold on market as the purchasing activities are carried out from south to north of China. Over 23 million tons of middle- and late-season rice have been purchased by far.
This year China set the floor purchase price for indica rice and japonica rice at 2,580 yuan (around 362.22 U.S. dollars) per ton and 2,620 yuan (around 367.84 U.S. dollars) per ton respectively to protect the interests of growers in the country's main producing areas.
The purchase price of high-quality rice across China is significantly higher than that of ordinary rice.
The purchase price difference between high-quality and ordinary varieties ranges from 300 to 600 yuan (around 42.12 to 84.24 U.S. dollars) per ton, according to Cheng Min, senior economist from China National Grain and Oils Information Center.
"The price of middle- and late-season rice in new season is expected to remain generally stable this year, with higher purchase prices set for rice of higher quality," said Cheng.
Over 40 million tons of autumn grain purchased in China
Over 40 million tons of autumn grain purchased in China
