August 17, 2007

China's Hubei ups financial support for hog production

The Livestock Bureau of China's Hubei province announced on Wednesday (Aug 15) that the provincial government will provide RMB200 million to facilitate the development of hog production activities.

The fund will go towards providing subsidies to sow farmers, co-payment for sow insurance schemes announced by the central government earlier as well as compensating farmers whose hogs have to be culled due to blue ear swine disease.

Separately, the finance department of Hubei province government will also set aside RMB30 million this year as incentives to boost production in major hog production districts, mainly those with a current annual hog slaughters of above 0.6 million heads.

In 2008, the province government's finance department will increase this incentive fund to RMB100 million. Farmers who plan to set up holdings of above 10,000 heads of hogs can apply for RMB1 million in subsidies.

RMB1=US$0.1315 (Aug 17)