CHINA has raised its minimum purchase prices for rice and wheat for a second time this year to encourage grain production and curb inflation, the National Development and Reform Commission (NDRC) said yesterday.
The increases were announced one day after the government pledged an increase of 25.25 billion yuan (RM11.56bil) to this year’s rural budget, a step aimed at boosting farm production and quelling an inflationary surge blamed on rising food prices and tight supplies.
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