China Bolsters Grain Buying with Minimum Price Programs

China's summer grain purchases are in full swing, with over 90 million metric tons of wheat purchased nationwide by grain companies and other market operators. This marks the peak period for these purchases, according to the National Food and Strategic Reserves Administration.

The administration reported that wheat purchases are progressing smoothly overall, while early-season indica rice in southern China has begun entering the market in large volumes.

To protect farmers' interests and support grain prices, authorities have activated minimum purchase price programs for early indica rice in Jiangxi and Hunan provinces and for wheat in Henan province since the beginning of August.