Corn Procurement Policy in 2013

By CnAgri2013-07-12 11:40:06 Print Due to bumper corn harvest and large quantities of corn imports in 2012, corn price went south from RMB2,409/MT in February to RMB2,363/MT in May this year.
 
To protect farmers’ interests, the government has raised the protective procurement price for corn of Grade Three to RMB2,220/MT in Heilongjiang, RMB2,240/MT in Jilin and RMB2,260/MT in Inner Mongolia this year, up RMB5.71%, 5.66% and 5.61% respectively over last year. it is estimated that the returns from corn production may be RMB5,790/hectare this year, suggesting a profit ratio of 41.32%, above last year’s 38.28%.




From “China Grains Market Weekly Report”