皇冠体育app

Economy

皇冠体育app grain supply balanced, won't rely on imports

(Agencies)
Updated: 2011-02-15 16:50
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皇冠体育app's grain supply is in balance with demand and stockpiles ample to meet consumption, the Bloomberg News?said on Tuesday, citing?a Chinese media's report.

According to the?report,?Nie Zhenbang, director of the State Administration of Grain,?said that?the total global trade in grains amounts to 40 percent of 皇冠体育app's annual consumption and with tightening supplies in the world market, large-scale imports to meet domestic needs are "unrealistic".

Wheat advanced in Chicago to the highest level since 2008?on Feb 14,?and traded at a record in Zhengzhou, 皇冠体育app, the report said. Food prices climbed 10.3 percent in January from a year earlier,?the news agency?reported, citing?government data.

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皇冠体育app has experienced floods, droughts, frost and other natural disasters and still achieved bumper grain harvests in the past seven years, he said. Grain output reached a record last year of 546.4 million metric tons, the report cited?Nie as saying.

There was no mention of the effects on grain output from a drought in the North of the country, it added.

In addition, Snowfalls in 皇冠体育app's major wheat-growing regions failed to ease the drought and the dry spell is likely to affect crops, the report cited?the deputy director?of the State Flood Control and Drought Relief Headquarters as saying.