Launch of price
subsidy pilot of soybean
In fact, it is the first time for China to implement the price subsidy pilot policy of soybean. China carried out the temporary purchase of soybean for reserve during 2008-2013, and the governmental purchasing price of soybean kept increasing in this period. As a result, domestic price of this product was much higher than that of the imported one. So domestic soybean processing enterprises turned to the cheap imported soybean. As data from China Customs shows, China imported around 63.4 million tonnes of soybean in 2013, up 8.6% year on year.
Insiders said that the policy can weaken the dependence on imports for soybean and encourage domestic farmers to plant soybean.
In fact, it is the first time for China to implement the price subsidy pilot policy of soybean. China carried out the temporary purchase of soybean for reserve during 2008-2013, and the governmental purchasing price of soybean kept increasing in this period. As a result, domestic price of this product was much higher than that of the imported one. So domestic soybean processing enterprises turned to the cheap imported soybean. As data from China Customs shows, China imported around 63.4 million tonnes of soybean in 2013, up 8.6% year on year.
Insiders said that the policy can weaken the dependence on imports for soybean and encourage domestic farmers to plant soybean.
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Latest update:2014/01/23 Data year:2014
Keyword:Soybean, Policy
Published by CCM
Quoted in:Corn Products China News 1402
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