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China`s grain prices rose 30 per cent in 1st quarter
Beijing, Apr 19: China`s prices for rice, corn, wheat and other staple grains rose 30 per cent in the three months ended March 31 from a year earlier, pushing overall food prices up by 7.9 per cent, the government said.
Beijing, Apr 19: China's prices for rice,
corn, wheat and other staple grains rose 30 per cent in the
three months ended March 31 from a year earlier, pushing
overall food prices up by 7.9 per cent, the government said.
China's edible oil prices rose 26 per cent in the first
quarter while meat prices rose 15 per cent and eggs rose 19
per cent, the national bureau of statistics said in an
announcement.
Vegetable prices fell 15 per cent in the first quarter, moderating the rise in food prices.
Grain production in China has fallen four consecutive years to a 15-year low of about 431 million metric tonnes in 2003.
China plans to pay 940 million Yuan (114 million US dollar) in ``urgent subsidies'' to farmers in the country's main rice-producing provinces to boost production of the grain.
The rice-planting subsidies are part of 10 billion Yuan of direct subsidies the government is planning to pay out this year, after grain output fell below 450 million metric tonnes last year, down from about 500 million tonnes in the mid-1990s.
Shortages caused grain prices to rise as much as 40 percent in the first two months this year.
The government will release enough grain from its reserves to limit wheat and rice price increases to 20 per cent this year and corn price increases to 10 per cent, Wu Baosen, an official from the state development and reform commission's price forecast center said.
Bureau Report
Vegetable prices fell 15 per cent in the first quarter, moderating the rise in food prices.
Grain production in China has fallen four consecutive years to a 15-year low of about 431 million metric tonnes in 2003.
China plans to pay 940 million Yuan (114 million US dollar) in ``urgent subsidies'' to farmers in the country's main rice-producing provinces to boost production of the grain.
The rice-planting subsidies are part of 10 billion Yuan of direct subsidies the government is planning to pay out this year, after grain output fell below 450 million metric tonnes last year, down from about 500 million tonnes in the mid-1990s.
Shortages caused grain prices to rise as much as 40 percent in the first two months this year.
The government will release enough grain from its reserves to limit wheat and rice price increases to 20 per cent this year and corn price increases to 10 per cent, Wu Baosen, an official from the state development and reform commission's price forecast center said.
Bureau Report