China to end stockpiling for soybeans, cotton in 2014

BEIJING Sun Jan 19, 2014 9:12pm EST

BEIJING Jan 20 (Reuters) - China will end its temporary stockpiling programmes to support soybean and cotton growers and trial a system of direct subsidies in 2014, the government said in a key policy document late on Sunday.

The widely anticipated move aims to shift to a more market-oriented approach for agricultural products after stockpiling failed to boost soy and cotton output.

Beijing will maintain stockpiling for rapeseed, corn and sugar and will continue to offer a minimum purchase price for wheat and rice, the document said. (Reporting By Dominique Patton; Editing by Paul Tait)

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