Beijing, May 6 - The current surge in global rice prices has had a limited impact on Chinese domestic prices because the country has sufficient stocks, the National Development and Reform Commission said Tuesday.
China can guarantee adequate supplies and price stability in the domestic rice market with ample state reserves and policies to curb exports, the agency said in a report posted on its web site.
NDRC is China's top economic planning agency.
Local rice reserves in major rice consuming areas are sufficient to meet demand for six months, and the government has arranged for transportation of rice from the North where it is produced to the South where much of it is consumed, the official said.
China's annual rice consumption is between 180 million and 185 million metric tons, while last year's rice harvest was around 185 million tons, the official said.
China took a series of policy measures this year to curb grain exports and encourage farmers to plant more rice amid high global prices. China's rice planting season starts from March and usually lasts until July.
According to initial estimates by government think-tank, China National Grain and Oils Information Center, Chinese rice output could hit 187.2 million tons this year, up 0.38% from last year, mainly on account of increased yields.
While that may even leave a slight surplus in rice, the country may still face an overall deficit in grains.
China's annual grain consumption, including soybean, is estimated around 510 million tons, while the country produced 501.5 million tons of grains last year, said the official.
But sufficient government stocks could ensure the domestic market is mostly cushioned from the impact of sharp fluctuations in global prices, although the general trend is for prices to rise gradually.
Premier Wen Jiabao said earlier this year that the country's state grain stocks stood between 150 million tons to 200 million tons.