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China raises minimum prices paid to wheat farmers

This article was originally published in The Public Ledger

CHINA'S top economic planner has said that it will raise the minimum purchase prices for wheat from farmers in 2012 to boost grain output.
The move "aims to protect farmers' enthusiasm to grow grains and further stimulate grain production," the National Development and Reform Commission (NDRC) said.
The minimum purchase price for white wheat in the country's major wheat-producing areas will be increased to yuan102 ($16) per 50 kg, up yuan7 from the 2011 price, said the NDRC.
It said the minimum purchase prices for red and mixed wheat will both rise yuan9 to yuan102 per 50 kg next year, reported Xinhau.


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