China reduces minimum purchase price of wheat

16/11/2018,

On 16 November, the Government announced a further cut to the purchasing price of wheat after a reduction which was implemented last year (FPMA Food Policies). The price for the 2019 crop will be reduced by 2.6 percent to CNY 2 240 (USD 323) per tonne year-on-year. When the market price drops below that level, the Government will buy wheat from farmers at the minimum prices. The further reduction aims to limit stockpiling and encourage plantings of other crops, including soybeans. Sowing of the 2019 winter wheat crop started on time in mid-September and finalized at the end of October (GIEWS Country Brief).

Country: China