Analysis of food price trends in 2020

In February, the average wholesale price of staple food grains stood at 2464yuan/ton in Chinese mainland, increasing by 0.73% from the previous month and 2.21% year-on-year, and the prices of wheat, corn, and paddy averaged 2275yuan/ton, growing by 1.06% year-on-year, decreasing 0.26% year-on-year. In the crop year of 2018/19, the prices of wheat, corn, and paddy averaged 2279yuan/ton, down 2.63% year-on-year. During the period from May, 2019 to February, 2020, the average price of these three staple food crops was 2251yuan/ton, decreasing by 1.48% year-on-year. The decline in the price of staple food grains brought about the decrease of grain planting income.
From the perspective of farmers’ selling price of these three staple food grains, it is 2193yuan/ton in 2018, decreasing by 1.72% over the previous year, and the estimated figure for 2019 is 2167yuan/ton, down 1.20% year-on-year.