AreaChina (Mainland)
Commodity GroupGrains
CommodityMaize
Date20/09/2015
Policy CategoryConsumption and marketing
Policy InstrumentGovernment procurement
DescriptionAnnounced the continuation of maize stockpile policy during 2015-16 but at a lower price than last year. The goverment will pay 2,000 yuan (USD 314.3) per tonne to farmers in the northeast, the countrys main maize production region, with the scheme lasting from 30 November to 30 April , 2016. The price is about 10 per cent lower than in 2014/15, ranging from CNY 2 220-2 260 per tonne.
NotesFour state-owned companies, including COFCO, are allowed to purchase on behalf of the government, and Beijing will offer subsidies for the purchases as well for building grain silos, according to the statement posted on the State Grain Administration website. ($1 = 6.3628 yuan)
