China puts 8.5m tons of grain reserve on market

Updated: 2010-11-27 11:14


Twitter Facebook Myspace Yahoo! Linkedin Mixx

BEIJING - China's top economic planner said on Friday that the country released 8.5 million tons of State-reserved grain and cooking oil from Nov 23 to 26 to ensure market supply meets the demand and to stabilize prices.

A total of 25.5 million tons of State-stockpiled grain and cooking oil had been released on the market since the end of October, the National Development and Reform Commission (NDRC) said in a statement on its website.

These stockpiles included 5.4 million tons of corn, 13.5 million tons of wheat, 6.3 million tons of rice and 300,000 tons of rapeseed oil, the NDRC said.

With the consumer price index, the main gauge of inflation, experiencing a 25-month high of 4.4 percent in October, China has been striving to ease commodity price increases and withdraw liquidity.

Related readings:
China puts 8.5m tons of grain reserve on market Food to stay costly
China puts 8.5m tons of grain reserve on market Chinese people brainstorming to eat cheaper food
China puts 8.5m tons of grain reserve on market Govt to introduce food price rules

The Chinese government has also been trying to boost agricultural production, increase supplies of farm produce and energy and crack down on speculation. It also said it would enforce price control when it was necessary.

Also, the People's Bank of China, the central bank, raised benchmark interest rates and hiked the reserve requirement ratio for banks twice in a month.

Paper's Digest

China bags Asiad team tennis title after 24 yrs

Wimbledon semifinalist Li Na led host China to capture the team tennis title on Tuesday at the Asian Games, accomplishing her Asiad tour with three consecutive victories.

China rate rises no panacea to curb inflation: PBOC adviser

European Edition


Safeguarding environment a priority

China continues to face mounting pressure to curb environmental degradation, despite progress in reducing pollution over the last five years, the environmental protection minister warned.

Employment to remain a continuing challenge

China's top labor official said the country will face a tough employment situation in the next five years.

Russian possessed with TCM

Born into a family of doctors, Maxime became interested in Traditional Chinese Medicine (TCM) at the age of 12, after hearing about TCM theories such as health preservation and recuperation.

Mounting inflation pressure tests policy makers
Chinese vice president to visit four nations
Chinese, Russian presidents meet in Seoul on co-op