China NDRC hopes to stabilize grain prices

China NDRC hopes to stabilize grain prices

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Asia Bizz: China’s NDRC (National Development and Reform Commission) hopes to stabilize grain prices in the country in the next few years. China is the largest grain producer of grain in the world and it does have 100 million tonnes of grain in its storage, out of which 40% shall be consumed by the nation itself.

Since the year 2007, the total grain output in the country has increased by 2.9% to 546 million tonnes, and this is quite impressive. In fact, this is the seventh year that China has seen a consistent increase in its grain output and it shall strive even harder to have a confident and impressive output in 2011.

Last year, China has been through one of the toughest times ever as nature poured out the worst devastations over the country. Consistent floods and droughts in the north have decreased the full crop output of the country, but as proper irrigation was available, China did not sway away from its target.