Mar 5 2008 | China, Peoples Republic of | Annual
Highlight: Corn production MY07/08 is estimated to drop six percent from the previous year due to an estimated nine percent drop in yield. In MY08/09, government will continue to encourage grain production through a series of policies, including direct payments, price supports, and a machinery subsidy. Comparing with soaring meat and vegetable oil prices, grains price rise has been moderate in MY07/08, however, to ease inflationary pressure and guarantee domestic grain supply, the government has tightened control on grain exports by removing tax incentives on exports and reducing export quota in MY07/08. China will remain a net exporter (though in small volume) for wheat, rice, and corn in MY08/09.
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