China to raise minimum purchase price for wheat in 2010

15:39, October 13, 2009      

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China will raise the minimum purchase price for wheat in the country's major wheat and rice production regions in 2010, said the economic planner on Tuesday.

The National Development and Reform Commission (NDRC) said in an announcement on its website that the minimum purchase prices for white wheat and red wheat will be increased by 3 yuan (0.44 U.S. dollars) from the 2009 level to 90 yuan and 86 yuan for every 50 kg, respectively.

The move aimed to protect farmers' interests and promote grain production, according to the NDRC.

Source:Xinhua
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