Heavy rain to have limited effect on grain prices, supply

The effect of heavy rain and floods on China's grain supply will be limited, and the country's overall grain prices will not fluctuate wildly, the country's top economic regulator said on Tuesday.

Meng Wei, a spokeswoman for the National Development and Reform Commission, said the heavy downpours have hit more than 1 million hectares of crops in Henan, but the effect on the country's overall grain supply will be limited.

"In the recent year, China has continuously gathered a rich harvest of grains," Meng told a news conference in Beijing. "China is able to ensure its grain supply due to its abundant grain reserves, enhanced capability for grain collection, storage and shipment as well as the improved systems for the production, supply, storage, processing and sale of grains. And grain prices will not rise sharply after the heavy rainfall."

According to Meng, grain, oil, meat and other agricultural products are in sufficient supply in Henan's affected areas, and the prices are running steadily.

In the next step, the NDRC will strengthen monitoring of the agricultural production and market supply in the affected areas. More efforts will also be made to guide and support local governments in the post-disaster replanting and changing of crops, and ensure a stable supply of major agricultural products.