Area
China (Mainland)
Commodity Group
Rice
Commodity
All
Date
28/02/2020
Policy Category
Production
Policy Instrument
Government procurement, support prices
Description
Raised government procurement prices of Indica paddy for the first time in six years. Accordingly, 2020 state purchasing prices would be set at CNY 121 per 50 kg (USD 341 per tonne) in the case of early Indica paddy and at CNY 127 per 50 kg (USD 358 per tonne) for late/intermediate Indica paddy, up 0.8 percent, each, from levels set in 2019. On the other hand, Government purchase prices of Japonica paddy would be left unchanged at their 2019 level of CNY 130 per 50 kg (USD 366 per tonne). In addition, state procurement volumes would be capped at a total of 50 million tonnes of paddy in 2020, of which 20 million tonnes would consist of Indica paddy and the balance Japonica paddy.
Notes
Exchange rate as of 15 May 2020.
