February 6, 2009
China to tighten regulation on foreign trade of farm products
China will support exports of its competitive farm products but prevent excessive imports of certain products to help stabilise the domestic market, according to an official document.
This aims to keep steady development of agriculture and improve farmers' income in face of the global economic slowdown and falling prices of key farm products, experts said.
China issued a plan last year to focus on the cultivation of 16 varieties, including wheat, corn, soy and rapeseed in 58 producing areas from 2008-2015.
As domestic prices of some farm products are higher than those on international markets, China is expected to gradually increase reserves of soy, rice and edible oil, and use the reserves to offset the heavy blow of excessive import, according to Nie Zhenbang, director of the State Administration of Grain.
