China Eyes Grain Imports as Prices Surge

Chinese grain companies are warning customers that grain prices will continue to soar. That’s due to a reduction of grain output this year.  That's according to online posts showing written notices from companies located in China’s major wheat-growing provinces. A grain company in Jiangxi province wrote that the epidemics and the heavy rainfall during the harvesting season seriously affected production. It says overall rice production dropped about 30 percent compared to previous years. The notice adds that the price of rice is expected to rise by up to 75 US dollars per ton.