China Holding 100 Mln T Wheat

China is holding 100 million tonnes of wheat stocks, around the same amount as its annual output, a top economic planning official said Mar. 6, reiterating Beijing’s resolve to keep grain prices in check. In a rare statement of the country’s grain stocks, Zhang Ping, head of the National Development &Reform Commission (NDRC), the country’s top economic steering body, said China’s grain reserve was about 40 per cent of its annual consumption. That was higher than the 17-18 per cent considered a normal level globally, said Zhang.

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