ANNOUNCED AS TEMPORARYYes
On the 25 October 2017, the Chinese government announced its minimum support price of wheat for the following year would decrease by USD 9.22 (CNY 60) to USD 353.39 (CNY 2300) per tonne.
The price denotes the amount at which the government buys wheat from farmers at the minimum price when the market price drops below that level.
This is the first decrease since the scheme started, implying that China is starting to want to bring its wheat prices in line with the rest of the world's.
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