China's rice reserves will remain stable this year despite soaring prices in neighboring countries.
Deputy Director General of Macro-Management Department of State Grain Administration, Zhou Guanhua said most of the rice-producing areas in China have surpluses after four years of harvest, and as the government offers minimum purchase prices to protect farmers from price wars, and subsidies rice transportation, the supply will be sufficient.
"There are plenty of stockpiles to ensure supply, and as more than 90 percent of domestic market is filled with made-in-China rice, the average price is not likely to be affected by global price hikes."
International rice prices have been keeping at a high level in recent weeks, as rice-exporting nations are curbing exports to protect domestic demands.