ANNOUNCEMENT 26 Feb 2021

February 25th, 2021 - The Chinese government announced an increase to the set minimum purchase price for rice.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

PRC National Development and Reform Commission, February 25th, 2021. (关于公布2021年稻谷最低收购价格的通知(发改价格〔2021〕272号))
https://www.ndrc.gov.cn/fzggw/jgsj/jgs/sjdt/202102/t20210226_1268259.html

Inception date: 01 Jan 2021 | Removal date: 31 Dec 2021

Price stabilisation

On February 25th, 2021, the Chinese National Development and Reform Commission released Fagai Jiage 2021/272 (hereafter, 'Announcement'), which increased the minimum purchase price for rice varieties for the year.

Below, the changes are listed, first in Renminbi, then US dollars. Prices are per tonne of rice.
(Key) Rice variety: new price (change vs. previous year)

CNY

  • Early season indica: 2,440 (+20)
  • Mid-season indica: 2,560 (+20)

USD

  • Early season indica: 378 (+3.10)
  • Mid-season indica: 397 (+3.10)

The purchase price for Japonica rice was kept constant at CNY 2,600 (USD 403).

The minimum state purchase price is the amount at which the government buys rice from farmers at the minimum price when the market price drops below that level.

AFFECTED SECTORS

 

AFFECTED PRODUCTS