China's Ministry of Agriculture and Rural Affairs on Thursday said that expanding soybean production is one of the top priorities in 2019. The country will encourage production of the crop with higher subsidies and other measures, in a move to reduce reliance on soybean imports amid a trade war with the US, a primary soybean supplier to China.
China said it aims to increase soybean and oilseed production by more than 5 million Chinese mu (0.165 acre) in 2019, according to a statement released by the ministry on Thursday.
To continue reading, please subscribe. You will get
- Original and in-depth reporting with details, data and perspectives you don't read elsewhere
- THE WIRE - a real-time financial news platform focused on China
- Daily Brief newsletter to get you prepared for every trading day
- An indispensable and reliable source of information on China's economy and financial markets
We highly value independence. We are solely funded by subscriptions from thousands of readers like you. Not ready for our full service? Try Free Weekly Newsletter first.
Already have an account? Sign In