date:Jul 22, 2013
n order tofund his planting efforts, Li had to sell his rice at a price of 110 yuan ($17.8) per 50 kg to private buyers. Last year's procurement price was 140 yuan per 50 kg.
Between planting costs and sluggish growth in purchase prices, the province's early rice farmers will likely lose money this summer, according to Yuan Longping, an 83-year-old academic from the Chinese Academy of Engineering who is regarded as the father of hybrid rice.
Gong Lixiong, owner of the Daliang Rice Mill, said t