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China to pay more for grain
Kazakhstan News.Net
Saturday 29th March, 2008
China's government is raising the minimum price it will pay farmers for rice and wheat in a bid to encourage production and ease shortages blamed for a surge in inflation.
An announcement by the country's economic planning agency is only one a string of measures aimed at cooling inflation.
The consumer price index accelerated to 8.7 percent in February, causing Chinese shoppers to become vocal in their complaints about the economy.
It was the second time this year the government has raised the minimum price paid for grain.
The government earlier froze prices of grain, cooking oil and other basic goods in an effort to cool inflation.
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