China maintains minimum wheat purchase price
China maintains minimum wheat purchase price
Beijing - XINHUA
China's minimum purchase price for wheat will stand at 2,360 yuan (384.32 U.S. dollars) per tonne for 2015, unchanged from the previous year, the country's top economic planner said on its website Thursday.
The government set the price after considering factors including grain production cost, market supply and demand, profits and world grain prices, according to the National Development and Reform Commission.
China has set a minimum purchase price for wheat and rice since 2004, so the government will buy grain from farmers at the state-set price when the market price drops below it.
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