April 23, 2009
Financial crisis hurting China's agriculture sector
The ongoing financial crisis has already negatively impacted China's agricultural sector, Premier Wen Jiabao said Wednesday (Apr 22).
China will extend the state purchases of soy to end-June to stabilise agricultural production and prevent a further decline in the prices of agricultural products, Wen said.
"International demand for key agricultural products has fallen...along with a lower domestic demand, and agricultural products prices are facing downside pressure."
Beijing will continue its state purchases of rapeseed at a "higher than market price" in the main producing areas, he added.
The government will also support small and medium sized agricultural products processing firms through loans, said Wen.
