China to increase price of rice

The Chinese government announced that it will increase the amount it pays domestic farmers for indica rice by 21% from US$0.14 per kilogram to US$0.17. The price increase is intended to encourage Chinese farmers to continue cultivating rice and raise output levels, according to government officials. Indica rice is the largest subspecies of rice grown in China. Price increases for other rice subspecies are expected to be announced by the Ministry of Agriculture later this year.