November 7, 2007

China wants foreign investment in aqua feedmeal and vegetable oilseeds
 

China's is encouraging foreign investment in aquatic product feedmeal and vegetable oilseeds production, the National Development and Reform Commission, announced Wednesday (November 7, 2007).

Aquatic product feedmeal was one of several kinds of feedmeal the country's top economic planner included in its revised list of the sectors where foreign investment would be encouraged.

China's State Council said earlier this year it will encourage the production of oilseeds through a series of measures, including providing more subsidies to farmers and promoting new technologies.

Surging vegetable oil prices, due to rising demand and reduced output of oilseeds and animal oils, have contributed to China's high inflation rate, which rose to 6.2 percent on year in September.

Foreign investment in the processing of cotton, and in the wholesale and retail sales of grain, cotton, vegetable oil and sugar will be restricted, according to the statement published on the NDRC's Web site.

The statement will be effective Dec. 1.