China Must Lower Corn Support Price to Move Stockpiles

Pro Farmers First Thing Newsletter reported Monday that China must lower its state corn prices to cut its massive stockpile and reduce imports of corn substitutes.

That’s according to China’s deputy director of the Central Rural Work Leading Group. The group is China's top decision maker when it comes to rural policy.

The group says that China could lower the corn support price mechanism this year, but if so, measures must be taken to protect farmers so that the country does not see a major drop in grain production.

Further, they say China should also take measures to make sure the country's stockpile of corn will not rise further as part of its effort to clear stocks.

Source: NAFB