Saturday, December 06, 2008

Increase in farm purchases

China is to increase "temporary" purchases of agricultural products, including cotton and soybeans, next year to help stabilize prices, Xinhua news agency said yesterday, citing Du Ying, vice chairman of the National Development and Reform Commission.

China will control the decline in pork prices and increase frozen pork reserves at "appropriate" times, the state-run news agency said, citing comments Du made at an NDRC meeting yesterday.

The minimum purchase price for grain and rice will also be raised at "appropriate times."

China's grain output may reach a record 525 million tons this year, and farmers' incomes may rise 6 percent from 2007 to more than 4,600 yuan (US$668), Du said.

The government will also issue measures to help employ migrant workers who lost jobs and returned home, Du said.

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