China to implement minimum purchase price for early indica rice ahead of schedule

CHINA'S food reserves bureau said it will implement a minimum purchase price for early indica rice ahead of schedule, though did not specify an exact date.

The National Food and Strategic Reserves Administration said in a statement on Friday (Jun 17) that it would implement the minimum purchase price ahead of the original start date of Aug 1.

In February, China's state planner issued the 2022 minimum purchase price for some rice products, including early indica rice. The set prices were raised from last year's, indicating increasing support for production of the crop.

China had called for an increase in rice production at the start of the Covid-19 pandemic, amid concerns over food security in the world's most populous country.

A government working group had said that regions with good growing conditions should restore double-cropping of rice, while grain output must not decline.

Planted acreage of early crop rice should be expanded, said the group, adding that the amount of land left fallow should be reduced. REUTERS