AreaChina (Mainland)

Commodity GroupOilseeds, oils and meals

CommodityGrains, oilseeds, edible oils

Date01/03/2021

Policy CategoryProduction

Policy InstrumentAgricultural policies

DescriptionRenewed its commitment to guarantee stable domestic supplies and prices of farm products, confirming public procurement of grains oilseeds and edible oils in 2021 and announcing a 1 percent increase in the minimum purchase prices for rice and wheat.

NotesCHINA – agricultural policy – procurement policy: In March, the Government renewed its commitment towards guaranteeing stable supplies and prices of farm products and informed that, in 2021, outlays for public procurement of grains and edible oils would remain the same as in 2020 at CNY 12.5 billion (USD 19.28 bill). Furthermore, a 1 percent year-on-year increase in the minimum purchase prices for rice and wheat was announced.