CCTV.com - CNTV English - CCTV News

China's grain prices to remain stable despite rising int'l wheat prices: NDRC

08-14-2010 11:13 BJT

BEIJING, Aug. 14 (Xinhua) -- Increased international grain prices are not high enough to raise China' s domestic prices, and the ample domestic supplies will be able to meet the demand this year, China' s economic regulator said on Friday.

"Currently, the global grain prices are still much lower than domestic prices. Even if international prices rise steeply, it will not pose a significant impact on domestic prices," a statement posted on the ministry' s website said, quoting an unnamed officer with the National Development and Reform Commission (NDRC).

The official pointed out that the international grain market is balanced in terms of supply and demand at present, and said there is, therefore, no possibility of sharp price increases.

He attributed the recent rise in global wheat prices to short-term market speculation. The prices would return to normal levels after speculative moves are phased out, the official said.

In July, international wheat prices rose significantly after Russia, a major wheat producing country, reported a sharp decline in wheat output following its worst drought in more than a century.

China could meet its demand for wheat, as most of its farms grow grains. A series of policy tools could also keep grain prices at balanced and reasonable levels this year, the official said.

However, he also pointed out that the authority should pay special attention to the extreme weather conditions, which could cause a negative impact on agricultural production.

Editor:Zhang Pengfei |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program