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China's grain market remains stable amid global fluctuations (4)


08:21, August 23, 2012

Despite the price stability of most of grain products, China has seen an increase in the prices of corn, soybeans and edible oils.

In a cereals and oils store in Jiangxi Province, soybeans and edible oils have seen slight price increases, with the price of 500 kg of soybeans rising to 3.5 yuan (0.55 U.S. dollars) from 3 yuan in July and five-liter bottles of edible oil hitting 71 yuan from 61 yuan in May.

Additionally, China has been relying heavily on corn and soybean imports.

The country is expected to produce 13 million tonnes of soybeans in 2012, while imports are expected to reach about 55 million tonnes, according to the Office of Central Rural Work Leading Group.

Moreover, China has transformed from a net exporter of corn into a net importer of corn.

Experts said that in addition to maintaining a balance in total grain production, the country should also pay more attention to the grain production structure and avoid relying excessively on imports.

Experts have also suggested that the country put more efforts into making innovations in agricultural technology and systems in order to maintain a stable increase of grain production.

【1】 【2】 【3】 【4】

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