Supplies of grain 'stable'

China's grain reserves will remain stable this year despite the credit crisis, soaring oil prices and pressure on global supply, Wen Quan, of leading grain, oils and foodstuffs import and export group COFCO, said yesterday.

At 150 million to 200 million tons, the grain supply is more than double the global average, Premier Wen Jiabao said during an inspection of Hubei province's agricultural sector during the spring plough.

The supply is sufficient for now but could be strained by weather conditions. Current forecasts predict droughts, Wen said. He added the government has nearly halted exports of some staple crops, including wheat and corn.