2015 early indica rice market-support purchase launched, Sinograin officially opens the scale

With the approval of the relevant state departments, Sinograin Corporation launched the 2015 minimum purchase price purchase of early indica rice in the three provinces of Anhui, Jiangxi and Hunan starting from July 28, and in Hubei Province starting from July 30. According to the provisions of the state's "2015 Implementation Plan for the Minimum Purchase Price of Wheat and Rice," this year's minimum purchase price for early indica rice is 1.35 yuan per jin (national standard third-grade product), the same price as the previous year, and the purchase execution period runs until September 30.

Early indica rice, commonly known as rice, is a major grain variety in China. Under normal conditions, China's early indica rice output is about 65 billion jin, accounting for about 5% of the national total grain output and about 15% of the total rice output, making it one of China's important staple grain varieties. At present, early indica rice produced in 2015 has already reached the market, and in some areas the market price of early indica rice has shown a trend of opening low and moving lower, and has already fallen below the minimum purchase price set by the state. In order to avoid “cheap grain hurting farmers,” in accordance with state policy provisions and with the approval of the relevant state departments, Sinograin launched the market-support purchase of early indica rice in the four provinces of Anhui, Jiangxi, Hunan and Hubei.

This year's market-support purchase of early indica rice, like the earlier market-support purchase of wheat, implements the “one entity, four joints” approach, namely Sinograin serves as the entity entrusted by the state to implement the minimum purchase price policy, exercises unified borrowing and unified repayment for market-support purchase funds, and at the same time the Sinograin branch companies, the provincial-level grain administrative departments, and the provincial-level branches of the Agricultural Development Bank jointly determine the entrusted collection and storage depot points, jointly organize acceptance inspection, jointly take responsibility for the quantity, quality, inventory management and sales outbound of the purchased grain, and jointly implement the minimum purchase price policy.

In the above four provinces, the Sinograin branch companies, the provincial-level grain administrative departments, and the provincial-level branches of the Agricultural Development Bank, in accordance with the principles of “being conducive to protecting farmers' interests, conducive to safe grain storage, conducive to supervision, and conducive to sales,” have arranged 1,011 entrusted collection and storage depot points for the market-support purchase of early indica rice. Information such as the names, addresses and contact telephone numbers of these collection and storage depot points will also be released to the public through the major local news media.

A relevant person in charge of Sinograin Corporation stated that Sinograin requires the relevant branch companies and directly affiliated enterprises, in the market-support purchase of early indica rice, to continue to adhere to strict site designation, strict risk prevention and control, strict launch procedures, strict quality control at warehousing, strict acceptance inspection of quantity and quality, strict inventory supervision, strict management of purchase funds, and strict statistics and information reporting, so as to truly put all policies, management systems and work requirements into place.