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China Downplays Fears of Grain Shortages

China’s Ag Minister is blaming speculators for rapidly rising corn prices which are stoking fears

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Beijing wants the rest of the world to know that the most-populated country in the world is not looking at a grain shortage.

According to DRGNews.com, China’s Ag Minister is blaming speculators for rapidly rising corn prices which are stoking fears about a possible shortage in the Asian nation.

Corn prices in China recently hit an eight-year high following events like typhoons and flooding that damaged the nation’s Corn Belt.

The nation’s Minister of Agriculture and Rural Affairs says the surging prices were caused by “market speculation and irrational hoarding.”

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