China Imposes Export Tax On Grains

In a move to control its surging domestic prices and curb the rising inflation rates, the Chinese government has introduced an export tax on major grain products .

China is the world's largest grain consumer and also a net exporter of rice, wheat and corn.

Reduced exports from China could raise prices of staples like flour and bread in southeast Asia, which already faces reduced shipments from drought-hit Australia, the world's second-largest wheat exporter.