Autumn grain purchases exceed 200m tons in China

BEIJING -- Autumn grain purchases across China have surpassed 200 million tons, marking a 32-million-ton increase from the previous year and the highest level for the same period in recent years, official data showed Saturday.

According to the National Food and Strategic Reserves Administration, this year's autumn grain entered the market earlier and boasts good quality. Since the peak purchasing season began, farmers have actively sold grain and enterprises have stepped up procurement, driving a significantly faster purchasing pace than last year.

Purchase prices for japonica rice, soybeans and corn in Northeast China rose about 2 percent, 5 percent and 10 percent year-on-year, respectively, significantly improving farmers' grain-planting returns, according to the administration.

With the New Year and Spring Festival holidays approaching, grain trading is expected to further pick up, the administration said, adding that it will help coordinate grain supplies to ensure adequate stocks and stable prices of grain and cooking oil during the holidays.