China, having the biggest population in the world, has sufficient grain reserves, helping keep the price of grain stable despite global market surging, China officials said.
The Nation's grain inventories, including the government's, enterprises' and farmers', are currently at around 250 million tons, or 50 percent of national annual grain consumption, which is much higher than the international warning line of 17 to 18 percent, said Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, at the 6th annual conference of Chinese importers and exporters.
Zhang also said that China is more than self-sufficient in wheat, rice and corn, which helps to limit the price pressure from global market. But the soybeans are most supplied from overseas.
China will invest 130.7 billion yuan in agriculture, and add 25.3 billion yuan as subsidies for farmers and further leveraged minimum grain purchase prices this year.
China's governor now is focusing on the grain price to cut the possibility of inflation, while the State Administration of Grain collecting national grain purchase, sales and inventories statistics once every 10 days.