date:Feb 01, 2016
for the government, which paid more than 2,000 yuan per ton for the reserves.
A big price cut will not help consumption. The industry is still not willing to build inventories as they know that the government has massive stocks, said Feng Jilong, a senior corn trader with a state-owned firm.
Chen said Beijing is currently looking how to subsidise farmers without artificially raising prices, and is also studying whether to abandon the price support system and let the market decide.
China is r