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Higher Chinese rice floor

This article was originally published in The Public Ledger

CHINA has raised the purchase price for rice to encourage planting. The minimum purchase price for middle- and late-season long-grain rice was set at yuan2,500 ($394) a tonne, an increase of 16.8% from last year, while the price for short-grain rice, China’s most popular variety, was set at yuan2,800 per tonne, 9.4% higher than last year. Presently market prices are higher.

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