The Strategist

Chinese authorities allocate $253M to support stable wheat production

03/10/2022 - 09:31

Chinese authorities have allocated 1.6 billion yuan (about $253 million) to support stable wheat production, according to information posted on the website of China's Ministry of Finance.
The allocated funds will be used to support winter wheat production in several provinces, to prevent and control major crop diseases and insect pests.

The funds will also go to combat the effects of extreme weather conditions that could affect wheat production.

Earlier, the price of wheat on the Chicago exchange rose to its highest in almost 14 years due to risks of supply disruptions due to the situation in Ukraine.