Autumn grain purchases across China have surpassed 200 million tonnes, marking a 32-million-tonne increase from the previous year and the highest level for the same period in recent years, official data showed Saturday.
According to the National Food and Strategic Reserves Administration, this year's autumn grain entered the market earlier and boasts good quality. Since the peak purchasing season began, farmers have actively sold grain and enterprises have stepped up procurement, driving a significantly faster purchasing pace than last year.
Currently, 48 million tonnes of medium and late indica rice, 35 million tonnes of japonica rice, 117 million tonnes of corn, and 8 million tonnes of soybeans have been purchased.
Purchase prices for japonica rice, soybeans and corn in northeast China rose about 2 percent, 5 percent and 10 percent year on year, respectively, significantly improving farmers' grain-planting returns, according to the administration.
"This year's autumn grain purchases have three characteristics: rapid progress, active market, and rising prices. Various market players have entered the market, resulting in brisk trade. The purchase prices of major autumn grain varieties have all looked up, with high-quality varieties selling well and enterprises showing strong purchasing intentions," said Luo Shouquan, director of food reserve department of the National Food and Strategic Reserves Administration.
With the New Year and Spring Festival holidays approaching, grain trading is expected to further pick up, the administration said, adding that it will help coordinate grain supplies to ensure adequate stocks and stable prices of grain and cooking oil during the holidays.
Autumn grain purchases exceed 200 mln tonnes in China
Autumn grain purchases exceed 200 mln tonnes in China
Autumn grain purchases exceed 200 mln tonnes in China
