China to cut 2018 rice acreage by 2.2% amid bulging stocks

China will curb planting of rice, its most important food grain, in a major step towards reducing a growing mountain of unsold stocks. The world’s second-largest rice grower will aim to slash the acreage planted by over 10 million mu or about 670,000 hectares, around 2.2 percent of its plantings for 2017. It is the first time China has sought to curb planting acreage of its most important food, underlining its worry over stock levels. It is a major policy shift. It will be the first time the state aimed to cut rice acreage. The government policy has always been increasing and stabilizing rice production.