Skip to content
Subscriber Only

China to End State Corn Stockpiling Amid Glut, Xinhua Says

  • China has more than 50 percent of global corn inventories
  • Government price support boosted output to all-time high
Updated on

China will end its state corn stockpiling program this year, replacing it with other subsidies, amid surging reserves in the world’s second-biggest grower, the official Xinhua News Agency reported.

The government will encourage state and private firms to buy corn at market prices and offer credit support to farmers, Xinhua reported late Monday, citing a press briefing by the National Development and Reform Commission. It will also promote changes in crop cultivation and move to reduce existing stockpiles, the news agency said. The changes will affect the 2016-17 season.