Comparison of world and domestic grain market prices
Until the economic reform that began in China in the 1980s, the central government held a monopoly on foreign trade, with the Minister of Foreign Economic Relations and Trade (MOFERT) exercising control on its behalf and drawing up national import and export plans. The specialised foreign trade corporations supervised by MOFERT handled import and export business. Of these corporations, the Chinese National Cereals, Oils and Foodstuffs Export and Import Corporation (COFCO) was in charge of...[Show more]
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