Source: CCTV.com

04-01-2008 11:56

A recent 30 percent jump in the price of rice worldwide has led to major producers cutting exports, to ensure stable domestic supplies. But Chinese authorities have been quick to ease consumer concerns, stressing that China has enough rice on the market.

A recent 30 percent jump in the price of rice worldwide has led to major producers cutting exports, to ensure stable domestic supplies. But Chinese authorities have been quick to ease  consumer concerns, stressing that China has enough rice on the market.

Exports from Thailand and Vietnam make up half the supply of rice on global markets. But with prices recently hitting a two-decade high, Thailand has already cut monthly export volumes from one million tons to around six to 700,000 tons.

While Vietnam has announced an annual export reduction of up to 22 percent, China's Premier says price-hikes for rice have had their effect on overall food prices. But Wen Jiabao is also stressing that the country is largely self-sufficient in terms of production.

He added that the Chinese government has also taken a series of measures to promote agricultural production. These include raising subsidies, improving irrigation, and introducing relevant technology to farmers.

Editor:Xiong Qu