China Says Its Grain Imports Not to Blame for Global Price Surge


Source: bloomberg.com bloomberg.com

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A Chinese government official rebuffed the idea that the nation’s massive corn and wheat imports are to blame for the jump in international prices, saying the coronavirus pandemic and uncertainty in global food trade drove “panic” in the industry. Grain prices have risen because of export restrictions by major suppliers and the stockpiling of food reserves by some countries, the Economic Daily reported , citing the views of Huang Hanquan, an official with the National Development & Reform Commission. Huang said it’s “irresponsible and completely contrary to the facts” to pin rocketing global food prices on China’s imports. The country’s...