China will purchase another 14 million tons of grain to increase the provisional reserves with a view to stabilize grain prices and protest the profits of farmers, according to the State Administration of Grain.
The purchase plan includes 7.5 million tons of rice, 5 million tons of corn and 1.5 million tons of soybeans. Prior to the new purchase, the Chinese government has already bought 16.5 million tons of grains.
The measures are expected to help raise farmers' income and motivate them to boost the production as the government targets to achieve the goal of 525 million tons in grain output this year.