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June 26, 2014
China plans to expand domestic grainreserves by 25 million tonnes this year and maintain stocks that will meet no less than six months of demand, Reuters reported.
The Chinese government is also aiming to add 50 million tonnes of storage capacity in the following two years, mainly in grain-producing areas in the country's northeast and south.
In grain pricing, China will allow prices for key products to be driven by market instead of using state-imposed minimum purchasing prices and temporary stockpiling.