grain

" China saw the sixth consecutive rise in grain production in 1999. The total output of summer grain was 118.49 million tons, an increase of 5.27 million tons from 1998, though the actual sowing area fell 2.4％ from 1998 and unit yield rose 7％. The total output of early rice was 40.95 million tons; an increase of 0.43 million tons or 1.1％ while the planting acreage was down 2.3％ from 1998 and unit yield was up 23.4％. The consecutive good grain harvests, lots of surplus grain in the farmers' hands and overstocks in the state grain storage, kept the grain price decreasing with a big drop, which exceeded people's expectations. The data from the State Grain and Oil Information Center showed that in December 1999, the state's average wholesale price for wheat was about 1,150 RMB per ton, a decrease of 17％ from the beginning of 1999; maize was 850 RMB per ton, down 30％; and soybeans were 1,850 RMB, down 16％. Although the grain output shows a falling trend, the oversupply will continue for some time. It's estimated that the grain price will see growth. Some varieties such as early indica rice (unhusked), predicted to have a lower output will witness an increasing price."