China Allocates 500,000 MT To High Consumption Areas

The Chinese government has ordered an allocation of 500,000 MT of rice from the northeast to the east and the west of the country in order to ensure sufficient rice supplies.

According to the Chinese state administration of grain,  rice prices are likely to remain higher even as an early crop output this year is likely to be slightly larger than a year ago.

Chinese analysts also expect grain prices to continue to rise this year amid increasing input costs and rising inflationary pressure.