According to the Ministry of Agriculture of China, due to the autumn drought, sowing of wheat on a third of the area was carried out late, as a result of which the state of winter crops is estimated as
worst in Chinese history.
As a result, the agency predicts a 20% yield decline.
Note, in turn, the FAO Food and Agriculture Organization predicts wheat production in China in 2022 at the level of an average five-year indicator.
Reuters reports that against the backdrop of the statement of the department and the disruption of supplies due to the war in Ukraine, the cost of wheat in China increased to 14-year highs.
In turn, the Celestial Empire, taking a focus on food security, plans to increase the production of soybeans and other oilseeds. Also, the country will increase the rate of increase in corn production.
To ensure food security, the government will increase crop insurance subsidies by 30.8% to 41.6 billion yuan ($6.59 billion).