Sinograin Fully Deploys 2015 Wheat Market-Support Purchasing Work

Sinograin Corporation recently made a full deployment for the 2015 wheat market-support purchasing work.

According to Sinograin Corporation, the National Development and Reform Commission and other departments recently issued the "2015 Implementation Plan for Minimum Purchase Prices for Wheat and Rice." The main features of this year's plan:

First, it stipulates that the minimum purchase prices for 2015 wheat, early indica rice, mid-to-late indica rice, and japonica rice (National Standard Grade 3) are 1.18 yuan, 1.35 yuan, 1.38 yuan, and 1.55 yuan per jin respectively, with prices unchanged from last year; the implementation period for the wheat market-support purchasing policy is from May 21 to September 30. Second, the plan continues to specify Sinograin Corporation as the entity entrusted by the state to implement the minimum purchase price policy, with purchasing funds uniformly borrowed and repaid by Sinograin. Third, it continues to implement the “four togethers” among Sinograin branch companies, provincial-level grain administrative departments, and provincial branches of the Agricultural Development Bank, namely the three parties jointly determine entrusted purchasing and storage depots, jointly organize acceptance inspections, jointly take responsibility for the quantity and quality of purchased grain and inventory management and sales out of storage, and jointly implement the minimum purchase price policy.