Loading...
See More

China: drought won't affect world food

Feb 15 2011 11:30 AFP

Related Articles

Oil, food bode ill for inflation

Brace for food price shock, Africa warned

Alarm as world food prices hit record

Nedbank warns of higher fuel, food prices

Demand for China powder milk booms

Global food system needs overhaul: report

 

Beijing - China sought Tuesday to alleviate fears about the global impact of a drought in its wheat-growing regions that has raised concern it could send world food prices soaring.

The situation "will not affect international food prices", foreign ministry spokesman Ma Zhaoxu told reporters at a regular press briefing.

"The recent drought may have some impact on winter wheat production but authorities are taking active measures to minimise the impact," he said.

He added that China had "abundant" reserves of grain that were sufficient to meet the nation's needs.

The dry spell in northern China's wheat heartland has caused considerable concern abroad, and even sparked a UN warning last week about the impact on winter crops, a key harvest for the world's biggest producer of the grain.

If China were to buy a large amount of wheat overseas due to a crop failure, prices on world commodity markets would surge at a time when food costs are already causing governments headaches.

Concerns eased somewhat after snow fell over the weekend across much of northern China including major wheat-producing provinces Shandong and Henan.

But experts say more precipitation will be needed to alleviate the dry spell, which has affected at least 7.7 million hectares of wheat crops.

Beijing has earmarked 13 billion yuan ($2bn) to combat the drought and has announced measures including diverting water to affected areas and constructing emergency wells and irrigation facilities.

china  |  food prices
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 
 

New GIF keyboard on iOS for added fun!

Soon sending an LOL! or facepalm will be so much more fun!

 
 

For chic geeks...

Puppy goes crazy over iPad game
Printable solar panels will bring exciting new opportunities!
Now there’s a special lane for texting while walking
LOL! 7 brutally honest texts from parents

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...