CHINA> National
China to raise minimum wheat purchasing prices
(chinadaily.com.cn)
Updated: 2009-10-13 11:27

China will continue to enforce its minimum purchasing price policy in main wheat and rice production areas and will increase the prices, according to a brief posted today on the website of the National Development and Reform Commission, China's top economic planner.

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China's State Council has approved for the purchasing price for white wheat, red wheat and mixed wheat produced in 2010 to be lifted to 90 yuan ($13.18) , 86 yuan, and 86 yuan every 50 kilograms respectively.

This means a three-yuan increase for each kind of wheat from the prices in 2009 and aims to protect farmers' interests and to increase crop production.

The minimum prices for rice will also be increased, details of which will be announced later.