Lingering drought sparks fears of price hikes

0 CommentsPrint E-mail Xinhua, January 20, 2011
Adjust font size:

The months-long drought in China's major wheat-growing regions is expected to continue, prompting fears of wheat price hikes.

A farmer shows the dry crops in Liaocheng, Shandong Province. The months-long drought in China's major wheat-growing regions is expected to continue, prompting fears of wheat price hikes.
A farmer shows the dry crops in Liaocheng, Shandong Province. The months-long drought in China's major wheat-growing regions is expected to continue, prompting fears of wheat price hikes.?

Most northern Chinese regions, which account for more than 80 percent of the nation's total wheat output, will continue to see cold and dry weather in the next 10 days, the National Meterological Center forecast Wednesday.

Over the last three and a half months, precipitation in the hardest-hit provinces, like Henan, Shandong and Hebei, has decreased by as much as 90 percent from average levels, according to the State Flood Control and Drought Relief Headquarters.

The drought had affected some 4 million hectares of crops and left about 2.2 million people short of drinking water, the headquarters said Monday.

Shandong's worst drought in 50 years has affected more than half of its winter wheat fields, or 2 million hectares, the local drought relief office said.

The drought will be the worst in 60 years if there is no substantial rainfall before Chinese Lunar New Year, which falls on Feb 3 this year, it said.

"If the wheat fields do not get water at the start of spring, output will definitely fall," said Yin Xuejing, a farmer in Juancheng County of Shandong.

This, together with projected drops in wheat output in other major producing countries like Australia, has put Chinese grain traders on alert.

China is the world's biggest wheat producer, with output exceeding 110 million tons last year, according to China Natinal Grain and Oils Information Center.

Zhang Zhixin, general manager of Xushui Zhixin Grain and Oil Trading Co. in Hebei, has been to the wheat fields near his company to assess the drought situation several times this month.

"We grain traders are even more worried than farmers after months of no rain or snow," said Zhang. "We're anxious to know if the long dry spell will trigger wheat price rises."

If there's no precipitation before the end of Februray, wheat output and quality will drop and prices will climb, Zhang told Xinhua.

Li Guoning, general manager of Ningjin Zhongcheng Grain and Oil Trading Co. also in Hebei, shared Zhang's concerns.

"The drought can become a speculation factor if it lingers into March," said Li. "The wheat futures market has already showed some signs of speculative buying."

Wheat futures for September delivery at the Zhengzhou Commodity Exchange has risen 2.3 percent this month.

Higher irrigation costs could also spur price hikes, Li said, adding that the drought this year is even worse than two years ago.

Despite the fears, many, however, say it's too early to predict a decline in wheat output and a rise in prices.

Jiao Shanwei, an analyst at China Grain, said wheat usually stops growing in the winter months and therefore needs little water.

"There won't be a big impact on the output if the wheat fields can be irrigated timely in spring," said Jiao. "But if the drought does not ease after Lunar New Year, wheat future prices will continue to surge," he added.

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 亚洲综合一区无码精品| 大地资源在线资源官网| 亚洲va久久久噜噜噜久久| 老师你的兔子好软水好多的车视频 | 精品无人乱码一区二区三区| 国产人妖ts在线视频播放| A级毛片无码免费真人| 性无码专区无码| 亚洲av永久无码嘿嘿嘿| 欧美激情在线一区二区三区| 四虎免费久久影院| 菠萝视频在线完整版| 性欧美18~19sex高清播放| 久久久无码一区二区三区| 欧美成人精品第一区二区三区 | juliaann大战七个黑人| 性欧美丰满熟妇XXXX性久久久| 丰满熟妇乱又伦| 日本人护士免费xxxx视频| 亚洲欧洲自拍拍偷综合| 绿巨人黑科技地址入口| 国产欧美日韩精品第一区| 99视频精品在线| 女博士梦莹全篇完整小说| 久久午夜福利无码1000合集| 欧美欧美欧美欧美| 亚洲精品无码久久毛片| 男人操心女人的视频| 免费看污视频的网站| 青春禁区视频在线观看8下载| 国产精品自产拍在线网站| 一级毛片aaaaaa免费看| 日韩内射美女片在线观看网站| 亚洲第一区精品观看| 精品无码成人片一区二区98| 四虎永久在线精品视频 | 亚洲国产精品无码久久98| 精品亚洲一区二区三区在线观看| 国产卡1卡2卡三卡在线| 窝窝午夜看片国产精品人体宴| 太粗太长岳受不了了|