According to Outlook Weekly under Xinhua, China’s grain prices will not be affected by the recent fluctuations in the international grain market. From 2004 to 2007, China’s total grain output was 469.5 million tons, 484 million tons, 497.5 million tons and 501.5 million tons, respectively. Currently, China’s grain reserves have reached 35 percent of annual national grain consumption.
Source: Xinhua, February 28, 2008
http://news.xinhuanet.com/world/2008-02/28/content_7682362.htm