China to Start Measures to Curb Food, Cotton Prices, Paper Says

China may impose price limits on food and toughen punishment of those found speculating on agriculture futures including corn and cotton to combat rising inflation, the China Securities Journal reported, citing an unidentified person.

The government may also crack down on hoarding, offer food subsidies and hold local mayors responsible for ensuring vegetable supplies and controlling prices, the report said. In May, the government said hoarders will be fined by up to five times the value of the commodities held, the paper said.