Regarding rice, the government will take actions this year too. The rice supply is increasing faster than demand. What's worse, it can't be stocked for a long time like wheat, and its industrial chain is not as long as for corn. Therefore, the pressure on stockpiles is mounting. We need to find a solution to reduce the stock of policy-supported rice.

This year, the prices of early indica rice, middle-season and late indica rice and japonica rice have been revised down 0.06 yuan, 0.04 yuan and 0.1 yuan per kilogram respectively. This shows that, on the whole, the supply of rice exceeds demand. As required in this year's No. 1 Central Document, we will take constructive, steady steps to reform the pricing mechanism for grain and other important agricultural products. We will also continue and improve the minimum purchase price policy for rice and wheat, making reasonable adjustments to these prices, to enable parity between prices. The reform should reflect the market demand under the basic policy framework. Therefore, these measures should play a vital role in maintaining farmer's enthusiasm to grow grains, pushing forward grain production and increasing farmers' income. Thanks.

Hu Kaihong:

Today's press conference will end here. Thanks to the spokesperson. Thank you everyone.

By Li Xiaohua, Wang Qian, Huang Shan, Chen Xia, Zhou Jing, Li Huiru, Li Jingrong, Zhang Rui, Wu Jin, Yuan Fang, Cui Can, Zhang Jiaqi, Zhang Liying, Layne Flower, Christopher Georgiou, Geoffrey Murray

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