AreaChina (Mainland)

Commodity GroupRice

CommodityAll

Date18/06/2021

Policy CategoryProduction

Policy InstrumentProduction support, crop insurance

DescriptionDecided that it would destine CNY 20 (USD 3.1) billion to avail producers of cereals, including rice, with a one-time subsidy to help them cope with surges in prices of agricultural inputs during the 2021 season. In addition, it would expand the coverage of two crop insurance schemes covering farmers against losses caused by natural disasters and income losses over 13 major cereal producing provinces, with the share of premiums subsidized by central and provincial authorities raised to at least 70 percent.

NotesExchange rate as of 15 October 2021.