China will sever the link between produce prices and government subsidies to build price mechanism that benefits both customers and farmers, China’s top economic planner said. The reform will subsidize consumers when the market price is too high while giving farmers allowances when the market price is below the target, the National Development and Reform Commission (NDRC) said in one statement…Full Article: Xinhua Jan 2014

Key point

  • The government’s first policy document of 2014 entitled “No. 1 Central Document” intends on reforming the nation’s grain pricing structure which currently has a subsidized minimum purchase price

Similar Posts by ChinaAg

Spread the word. Share this post!