China keeps minimum purchase price of wheat unchanged for 2015 crop

16/10/2014,

China will maintain the official minimum purchase price for the 2015 wheat crop, currently being planted, unchanged from this year's level. This measure aims to support farmers’ incomes following recent declines in the international wheat prices to multi-year lows amid ample supplies. The National Development and Reform Commission (NDRC) set the minimum purchase price at 2,360 yuan (USD 385) per tonne, based on the production cost of farmers, as well as the international markets prices. The Government has also been increasing wheat purchases for state reserves.