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China's food supply remains stable. Customers don’t resort to extra anxious or even panic buying. This was stated by a senior official of the Ministry of Agriculture on Wednesday (August 26, 2020) following the recent uncertainty over the coronavirus epidemic.
Still, farmers and traders should prevent food waste caused by improper storage, while farmers who stockpile in the hope of later gains should be wary that prices could turn against them, ministry official Tang Ke told a briefing.
President Xi Jinping raised the issue of food security earlier this month when he spoke about “shameful” food wastage, while a government think tank has warned about a looming food supply gap by 2025.
Tang said the coronavirus pandemic has increased uncertainty in both domestic and foreign markets for agricultural products.
During the first half of the year when China was hit by the coronavirus epidemic, it had sufficient grain reserves and strong processing capacity, along with market regulation and a developed logistics distribution system, he said.
In the absence of major disasters, China was set for a bumper year for grains, he added. Tang also said soybean imports were expected to rise in the second half of 2020. Find more...
Source: Online/SZK
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