China News Agency, Beijing, October 15 (Reporter Chen Su) The Ministry of Agriculture and Rural Affairs of China announced on the 15th the operation of the agricultural product market in the third quarter. The relevant person in charge of the Market and Information Department of the Ministry of Agriculture and Rural Affairs stated that China's food prices will rise or increase in the later period. The possibility of falling is unlikely.
The person in charge said that according to the monitoring of the Ministry of Agriculture and Rural Affairs, China's agricultural product wholesale price 200 index in the third quarter was 119.34 (100 in 2015), an increase of 2.24 points from the previous month and an increase of 7.67 points from the same period last year.
Among them, the price of food has recovered and the fluctuation is still within a reasonable range. The price of corn has increased relatively large and has stabilized recently; the number of imported soybeans has increased significantly, and the price of domestic soybeans has fallen from a high level.
Looking ahead to the market, the person in charge said that in terms of wheat, since mid-July, China has increased the minimum purchase price of wheat, and the market has sufficient grain supply, and wheat prices have gradually stabilized.
At present, China’s total wheat inventory exceeds one year’s consumption, and the government’s ability to regulate reserves is fully capable of guaranteeing the supply of rations in the market. Later, as autumn grains are launched in large numbers and corn prices stabilize, wheat prices will maintain a steady trend.
In terms of corn, with the gradual increase in the amount of corn on the market in the main producing areas, the temporary storage of corn is out of the warehouse, traders speed up the sale of their grains, and imported corn and substitutes are gradually arriving in Hong Kong. In the short term, corn prices are expected to remain stable or fall slightly.
In terms of rice, the country’s rice stocks are sufficient, more than a year’s worth of consumption, and this year’s rice harvest is a foregone conclusion, the possibility of a sharp increase in prices in the later period is unlikely.
"Since soybean production is expected to continue to recover this year, and market supply tends to be loose, prices may continue to fall from high levels," said the person in charge.
He said that this year's grain harvest in China is a foregone conclusion. In the later period, autumn grains in various regions will gradually enter the concentrated market period. Under the fundamentals of high grain yields and sufficient stocks throughout the year, it is unlikely that grain prices will rise or fall sharply.
"All aspects should take a comprehensive and rational view of market fluctuations. Farmers should rationally arrange the pace of grain sales and sell them at a good price to avoid the loss of bad grains caused by improper storage. Traders and processing companies do not need to stock up and buy, and they should prevent speculation. The risk of coming.” (End)