China has declared an emergency over a drought which could damage the important wheat crop, threatening further hardship for farmers amid slumping economic growth. The dry winter gripping parts of central and northern China sent Zhengzhou wheat futures up five per cent last week but physical prices have not moved, with most investors confident the
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China declares emergency as drought bites
China shores up falling crop prices
China will purchase grains for reserves at prices above current market levels, set up national soybean reserves and buy grains, rapeseed and cotton, in order to help shore up incomes of farmers whose commodity prices are falling sharply. The moves are in line with a pledge by top policy-makers this month to increase rural incomes.
