The National Development and Reform Commission may be considering a cut to the price floor propping up the value of China’s domestically produced corn, Dim Sums reported, citing an unnamed commission official quoted in Grain and Oils News. According to China Business News, some officials want to slash corn’s price by as much as 20% in order to boost consumption of domestic corn and curtail imports of sorghum and barley. But Ministry of Agriculture officials reportedly oppose such a steep cut on the grounds it could cause dissension among farmers in China’s flagging Northeast, where about 40% of the crop is grown. For more on China’s grain policies, see CER’s in-depth report.
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