China to end stockpiling for soybeans, cotton in 2014
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)
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Gaza toll soars as Israel 'days' from completing tunnel hunt
- Obama to Republicans: ‘Stop just hatin’ all the time’
- Argentina braces for market reaction to second default in 12 years