CHINA’S AGRICULTURAL MINISTRY SETS 2024 GRAIN OUTPUT AT MORE THAN 650 MILLION TONS
China’s Ministry of Agriculture and Rural Affairs on Monday vowed to step up efforts to achieve a bumper grain harvest in 2024 and ensure grain output reach more than 1.3 trillion jin (650 million tons) in a bid to safeguard the country’s food security. The ministry said that it will assign grain, soybean and oil crops to individual provinces, and will stabilize the sowing area of grain crops to above 1.77 billion mu (118 million hectares), according to a statement posted on the ministry’s website. In 2023, China’s grain output reached a record high of 695.41 million tons, with the sufficient food supply and stockpiles providing strong support for the country’s continuous economic recovery, official data showed.
(Link: Vietnamagriculture)
PHILIPPINE RICE PRICES INCREASED SHARPLY
The wholesale price of medium-milled rice in January 2024 was at 46.60 pesos/kg, up 1.7% compared to 45.83 pesos/kg in December. Similarly, the wholesale price of well-milled rice increased by 1.5 % to P49.96/kg and 28.6% higher than P38.28/kg in January 2023. Specialty rice also showed a similar trend, with an average wholesale price of 55.11 pesos/kg in January 2024, marking a 1.8% month-on-month increase and a 19.1% year-on-year increase.
PSA said the country’s rice reserves increased by 6.9% as of January 1, 2024, reaching 2.03 million tons, 9.6% higher than the same period last year. Almost half of the rice reserves are held by households or in farmers’ warehouses, with household stocks totaling 1 million tons and commercial stocks held by traders and importers in level of 978,000 tons. In contrast, the National Food Authority’s (NFA) reserve is only 48,680 tons, enough for the country’s needs for 2 days.
(Link: Vinanet)
