(Yicai Global) Nov. 4 -- China's grain reserves are sufficient and at a historically high level, according to a government official.

Annual grain production is forecast to exceed 650 million tons for the seventh year in a row, CCTV cited Qin Yuyun, director of the food reserves department of the National Food and Strategic Reserves Administration, as saying at a press conference yesterday.

The fall harvest is coming to an end and has ensured a good yield for the year, laying solid foundations for domestic grain supply, Qin said.

Wheat and rice make up over 70 percent of the total inventory, he said, adding that wheat stocks are increasing due to a series of bumper harvests, and they are enough to meet demand for a year and a half.

China can process 1.5 million tons of rice and 800,000 tons of wheat a day, Qin said, adding that daily production of rice and flour can feed the whole country for two days if one person eats half a kilogram a day.

China’s emergency food support capabilities have been greatly boosted. There are more than 5,500 emergency grain processing firms, and reserves of refined grains and oils in 36 mid-sized and large cities can last for more than 20 days.

Editor: Futura Costaglione