Soaring Grain Prices Raise Global Concerns

Grain prices often dominate all other product prices,and an increase in their price is usually considered as a prelude to inflation.The three fairly serious inflations,in 1985,1988-1989,and 1993-1995 respectively,were all preceded by grain price hikes.Furthermore,the money supply surged in the preceding year or during the same year in which these inflations occurred.This year has witnessed the same symptoms. High grain prices,which still have a possibility to go up further,have attracted wide attention across the world,including in China.As early as the end of last year,the State Council issued a circular that mandated the stabilization of grain prices in order to strictly crack down on illegal actions such as dishonest merchants driving up grain prices.One time,five State-level Departments led by National Development and Reform Commission,released an urgent announcement in order to safeguard the stability of grain prices in the domestic market.Wu Xiaoling,Vice Governor of the People's Bank of China,said that the negative influences exerted on other product prices by the rise in global grain price should not be ignored.According to Wu,the People's Bank of China will continue to closely watch the price changes. From a global and comprehensive viewpoint,the article analyzes the features of the recent grain price hike and the reasons for its dramatic rise,as well as,the impact it will have on the global economy.     

Declining Grain Output may Boost Inflation?

According to the announcement released by the National Bureau of Statistics on July 12th,China's annual summer grain output in 2010fell for the first time in 7 years to123.10 million tons,a drop of 0.3%,or 0.39 million tons less than the previous year.     

China,More than Self-Sufficient

At the moment,the whole world faces the most severe inflation in food prices in history,as grain and soybean prices climb to all-time highs.Al- though some observers blame the weather for the decrease in crop yields and that the growing demand for cereals used for bio-fuel production has conspired toward continuous price rises on world grain mar- ket;others regard it simply as a matter of demand outpacing supply.In seven of the last eight years,world grain production has fallen behind rates of consumption. Soaring world grain prices are pro- jected to keep driving food price infla-     

China,More than Self-Sufficient

At the moment,the whole world faces the most severe inflation in food prices in history,as grain and soybean prices climb to all-time highs.Although some observers blame the weather for the decrease in crop yields and that the growing demand for cereals used for bio-fuel production has conspired toward continuous price rises on world grain ma ket;others regard it simply as a matter of demand outpacing supply.In seven of the last eight years,world grain production has fallen behind rates of consumption.     

Export Rebates on Grain Finished

According to the State Statistics Bureau, China's consumer price index (CPI) jumped by 6.9 percent year-on-year last November, approaching the high levels seen at the end of 1996, one of the largest areas of increase was the price of grain,which rose by 6.6 percent. There is no doubt the growth in CPI can be mainly attributed to soaring food prices and the diffusion effect of oil price adjustments. Large orders for grain exports have put Chinese grain suppliers under tremendous pressure. In order to solve this problem, the Finance Ministry and State Administration of Taxation together announced that 84 categories of export tax rebates on major types of grain will be eliminated.……     

Challenges or Opportunities？——Developments of China＇s Grain Industry since WTO Entry

Agriculture is the foundation of the national economy,while grain is the cornet stone of that foundation.It is also essential for subsistence and development of the mankind. In recent years,especially since its entry into the WTO, China has been undergoing a period of twists and turns in the development of its grain production and trade which used to be sound and stable.[第一段]     

Inefficient Traffic Management System and Oil Price Hikes Hinder China''''s Auto Industry

China's auto market in the beginning of the New Year did not experience a spree as expected despite sweeping price cuts. Following Honda Guangzhou's announcement that its new Odyssey was selling RMB20-30 thousand cheaper and GM Shanghai's price cut for 3.0 L Regal late last year, FAW became the first to woo the consumers with a package of offers on the first day of the New Year. Refreshed price tags saw one of its four- wheel drive jeeps now sells RMB     

Nation＇s Grain Output to Top 490 mln Tons in 2006

China＇s grain output would increase for the third consecutive year to more than 490 million tons in 2006, according to the State Grain and Oil Information Center.     

Price Hike Influences Consumers' Confidence

From early 2007 to the first half of this year,the price hike of the agricultural products,closely related to people's daily life,has attracted attention from all parties,especially from the general public.According to a nationwide survey recently,90.9 percent of the survey respondents are aware of the price rise of grain,cooking oil,meat and eggs.And 78 percent of them think that the price hike is     

Price of Agricultural Products up 6.4%

The price of China‘s agricul-tural products saw a 6.4%increase year-on-year in the first quarter of 2005, a ccording to asurvey conducted by the National Bureau of Statistics.     

Who Will Trigger the Bomb of Price in the Auto Market in 2003 in China?

Despite China's auto market is till immersed in the afterglow of its "great eruption of oil well," as if every model of cars, costing a high price or low price, would all sell well on the market, yet it can be predicted that the year 2003 will, no doubt, be a year of price for China's auto industry. As soon as a big equivalent "bomb of price" would blow off in the beginning of the year, the pricing in China's auto market is sure to go through a sweeping reshuffle, and an effect of the theory of domino is inevitable to follow. No wonder, the market will be shaken by a price downslide of some key model of car produced by a solid-founded enterprise, with a drastic price down of RMB50000 for each car!     

Shanghai General Auto Leading China's Automobile Industry to Face WTO Accession

Under the first shock of price pressure from China's WTO accession, the Shanghai General Auto Corporation firmly took the initiative. On January 28, 2002, its new models SAIL and BUICK G2.5 were launched on China's market, seeing a rise in demand for the …     

China's PPI of Manufactured Goods up 2.4% in July

China's producer's price index (PPI) for manufactured goods rose by 2.4% in July over the same period of last year, the National Bureau of Statistics said. Meanwhile,the purchase price index of raw     

Olympic-themed Lottery to Be Issued

Beijing is to issue an Olympic-themed lottery in May,according to Beijing Sport Lot- tery Center.And the Olympic-themed lotteries have been issued in Shandong Prov- ince as the first trial place,with price set between RMB five and ten.The sales in 8 cities valued over RMB 13 million,only in the very first three days. Some from Beijing Sport Lottery Center said that,the related system and software are be- ing updated and improved for the later listing.They are planned to make Olympic lotteries on sales in May.     

Nation''''s Grain Output to Top 490 mln Tons in 2006

China's grain output would increase for the third consecutive year to more than 490 million tons in 2006, according to the State Grain and Oil Information Center. The center slightly raised its 2006 maize, wheat and rice production forecasts. But the soybean forecast was cut by 400,000 tons to 15.5 million tons.     

Rice Price under Pressure

Early in April,the FOB (Free on Board) value of rice exported from Bang- kok,Thailand,the biggest rice exporter of the world,surged to a new high of USS730 per ton,representing an increase of 70 per- cent in recent years,and setting a new re- cord over the past 34 years of Thailand rice exports.As a result,the average price of rice in the global market has increased by 25 percent.In order to ease the grain short- age,rice exporters have begun to search for solutions.In the Philippines,which is the biggest rice importer of the world,restrain- ing grain sales have been prohibited by the government and other measures,such as the purchase of overseas grain to fill re- serves,have also been taken.     

Tariff Soars in the First Half of This Year

B ecause the import has greatly increased and the price of the imported products has been remaining high from the beginning of this year,thus the tariff soars.According to the latest statistics from General Administration of Customs,the national tariff and imported tax in the first half of this year totaled to TMB 240.3 billion,which is in     

Pros and Cons,Iron Ore Price Hikes

Backaround Baostecl and CVRD reached an agreement on the price hikes of 65 percent and 71 percent in February.And in June Baosteel and Rio Tinto which is the largest iron ore company in Australia reached an agreement on the price hikes of 79.88 percent on the iron ore fines and 96.5 percent on the iron ore lumps.This is the first time that two kinds of the iron ore price grew at the same time in Asian market.     

Challenges or Opportunities?——Developments of China's Grain Industry since WTO Entry

Agriculture is the foundation of the national economy,while grain is the cornet stone of that foundation.It is also essential for subsis- tence and development of the mankind. In recent years,especially since its entry     

CPI Expected to Increase Moderately

Despite worries about possible inflation, experts say China should only expect a “moderate“ growth in its consumer prices this year. due to the rise in grain prices since last October. Qi Jingmei, a senior economist with the State Infornlation Centre. said the country‘s consumer price index, a key inflation gauge, is likely to rise 3% this year. Zhang Liqun, a senior researcher with the State Council‘s Development Research Centre. said the country‘s CPI could grow as high as 5% during the first quarter.