Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/02/2020
Policy Category
Production
Policy Instrument
Agricultural policy
Description
Released its 2020 crop production policy, which included the continued promotion of soybean cultivation. Policy priorities also included increased support for high-yielding soybean traits and new incentives for intercropping maize with soybeans two measures aimed at helping to reduce the countrys dependence on soybean imports.
Notes
CHINA agricultural policy: The Governments 2020 crop production policy envisages the continued promotion of soybean cultivation. Reportedly, the 2020 policy priorities would include increased support for high-yielding soybean traits and new incentives for intercropping maize with soybeans two measures aimed at helping reduce the countrys dependence on soybean imports. In 2019, government outlays for producer subsidies in Chinas North-eastern soybean growing provinces totalled CNY 17 billion (USD 2.4 billion) up by CNY 4 billion (USD 564 million) from the preceding year. According to industry estimates, in 2019, the per hectare subsidy for soybean farmers amounted to CNY 3 825 (USD 539), which compared to CNY 4 800 and CNY 2 595 (USD 676 and 366) in, respectively, 2018 and 2017.
