August 22, 2023

China to subsidise fertilisers and pesticides used for corn and soybean productions in northern region

China's Ministry of Finance has arranged for a one-time subsidy fund of ¥2.4 billion (US$329.67 million) for fertilisers and pesticides for corn and soybeans grown in the north of the country, state media said on August 21.

The funds, which were approved on August 18, will support use of crop chemicals to boost resistance and reduce losses in the country's major autumn crops, the report by state broadcaster CCTV said.

China's north and northeast, its top grain-producing regions, were inundated with heavy rain and flooding in recent weeks, raising concerns of higher levels of pests and damage to grain output.

Some forecasters have lowered estimates for China's upcoming corn harvest though the Ministry of Agriculture and Rural Affairs kept its outlook unchanged at 282.34 million tonnes.

- Today Online