'Drought won't dry up the grain supply'

Despite the severe drought this winter, China is hoping to haul in another good harvest following seven successive record harvests of agricultural products, Agriculture Minister Han Changfu said on Thursday. He made the remarks in response to international concern that China's grain harvest could be lower this year and that the country would need to import more as a result, triggering a hike in global prices.

Global grain market analysts had forecast a reduced grain harvest in China because of the drought that affected nearly 42 percent of the world's top wheat producer's wheat-growing heartland. In addition to being the world's largest wheat producer, China is its largest consumer. The London-based International Grains Council has predicted that China will account for 17 percent of global wheat consumption this year by June 30. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.