China eyes another year of rice imports to cool domestic prices

Chinese demand looks likely to act as a partial safety valve for an amply supplied rice market for a second year running, as the world’s top consumer of the grain takes advantage of global prices around 25-30 per cent below record domestic levels.

Still, Chinese demand looks unlikely to bail out Thailand - where a government rice buying scheme has built up stocks equal to half of global annual trade - as cheaper Vietnamese and Pakistani grain snatch the lion’s share of business.

via Business feed http://www.scmp.com/business/commodities/article/1132900/china-eyes-another-year-rice-imports-cool-domestic-prices