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(China Daily)
Updated: 2008-07-24 07:33 粮食最低收购价 (liangshi zuidi shougoujia) Minimum Procurement Price for Grain A policy scheme to protect the interest of farmers growing grain crops and safeguard the country's grain security. Starting from 2004, the government entrusts qualified companies to purchase wheat and rice from farmers if the market price is lower than the minimum procurement price set for this year. Thus, farmers would not have remarkable losses in years of grain harvest because the scheme helps maintain the country's grain yield and flatten its fluctuations caused by market changes. The current minimum procurement price is 77 yuan for every 50 kg of rice and 72 yuan for every kg of wheat. (China Daily 07/24/2008 page8) |
