November 5, 2010
China's Chongqing unveils grain bank to support farmers
Tongliang County of China's Chongqing City has set up a "grain bank" to help farmers flexibly handle their perishable grain harvest.
The grain bank was initiated by the local government and is operated by Chongqing Tongliang Grains & Oil Co.
According to Zhu Qixue, general manager of Tongliang Grains & Oil, farmers can deposit grain harvested, free of charge, at 48 collection points set up in the county and get a bank-book recording their grain holdings.
Since the grain bank was set up on September 1, it has stored 1,600 tonnes of grains deposited by farmers. With records of grain deposits, farmers can withdraw their grains or sell them to local grains & oil enterprises at market prices, Zhu says.
Farmers can exchange their grain deposits for other commodities at local shops or ask designated processing enterprises to turn them into final products at a certain costs, Zhu explains. The grain bank provides a win-win situation for both farmers and grain enterprises.