China to drop domestic grain price support

Monday, February 01, 2016


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China’s policymakers have confirmed that the government will let domestic grain prices be decided by the market, with the state’s price support no longer playing a role.

The Chinese government’s support of agricultural crops, especially corn, has led to large build-up of inventories and the decision by Beijing to abandon the policy has been widely expected, although the timing of the actual implementation is still unclear.

 

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