China to further expand soybean production

BEIJING -- China will strive to expand soybean production in an effort to keep grain output stable amid concerns of a global food crisis, the country's top economic planner said Tuesday.

The country will also keep corn and other grain output stable while taking precise measures to sell policy-supported grain to ensure market supply, said Meng Wei, spokesperson of the National Development and Reform Commission.

The country's grain stock is sufficient and can hedge against risks in the market, Meng said, adding that the stable grain market in China offers a buffer against a potential global food crisis.

Data from the United Nations Food and Agriculture Organization showed that the Food Price Index averaged 159.3 points in March, up 12.6 percent from February, the highest since the index was launched in 1990.

China has set a target to ensure that the full-year grain output stays above 650 billion kg in 2022. Last year, China's grain output hit a new high of 683 billion kg, with grain farmland exceeding 117 million hectares.