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In 2016, the People’s Republic of China removed its support prices for maize and started destocking its large public … reserves of maize. This paper investigates what would happen if China were to also eliminate its support prices for rice and … support prices are eliminated but incorporate different assumptions about China’s import policies. To account for the …
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Reforming China’s grain policy could have significant implications for both domestic and international markets. China … payments. The assessment of policy reform scenarios for grains, using two partial equilibrium models, show that China would …
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In the long view, recent grain price volatility is not anomalous. Wheat, rice, and maize are highly substitutable in the global market for calories, and when aggregate stocks decline to minimal feasible levels, prices become highly sensitive to small shocks, consistent with storage models. In...
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