Smuggled rice worth $28 million seized in China
Customs officials in southwest China have confiscated 29,000 tonnes of smuggled rice which has a staggering street value of $28 million.
Black market rice is a burgeoning industry in China due to government policies which allow farmers to sell their rice at pre-fixed rates if market prices fall.
It is unlikely the policy will be rolled back any time soon due to political sensitivity for rural communities, according to The Wall Street Journal.
Authorities have not released where the seized rice originated from, but customs authorities have seized more than 218,500 tonnes so far this year. It is believed the lion's share has been smuggled from Vietnam and the Philippines.
China is by far the largest importer of rice in the world and are the eleventh largest rice exporter, behind Australia who come in at tenth.
China is also the second-largest rice producer, but are unable to produce enough to meet demand.
In August and October this year, customs police in central China seized 28,700 tonnes of smuggled rice worth close to $33 million and detained 18 people.
In November, southwest Chinese customs authorities seized 32,500 tonnes of rice worth $26 million and detained 19 people.
Read more at http://www.9news.com...JwL4MQ2LG56I.99
Isn't the Philippines generally struggling to have enough rice , and have to import large quantity's as it is...?