ANNOUNCED AS TEMPORARYNo
On the 17th of February, 2017, the PRC National Development and Reform Commission promulgated the minimum procurement price stipulation for the three main cultivars of rice paddy plants in China. These three prices (listed in USD/tonne) were lowered from their 2016 levels thus:
The changes are in reaction to changing rice market conditions.
The price stipulation exists to prevent small-scale peasant farmers from being harmed by low prices, while also making sure that Chinese rice is more competitive than imported rice. ("谷贱伤农" - "Low grain prices hurt the peasants").
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