basmati rice 3According to the sources it has been reported by the National Development and Reform Commission (NDRC) that the government of China has announced 2016 minimum purchase prices for rice. The Chinese government has reportedly lowered the price for early season indica rice to around 2,660 yuan (around $404) per ton from around 2,700 yuan (around $410) per ton in 2015. Further, it  retained the purchase prices of mid to late season rice and japonica rice at 2015 levels of around 2,760 yuan (around $420) per ton and 3,100 yuan (around $471) per ton respectively.

Further, in this regard, it has been revealed that the Chinese government has been purchasing rice from farmers under its procurement policyShanti Agro Industries Pvt. Ltd. since 2004. It has also been indicated that the government will intervene and buys rice from farmers at the state-set purchase price if the market price falls below the government price.

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