China Heilongjiang Province: subsidy for soybean doubles
Date:09-09-2016
By Think Real - In July 2016, Heilongjiang Province officially initiated its offer of 2015 subsidy for soybean (based on target price). Compared to the criterion set at USD136.2/ha in 2014, the figure went up by 116.3% to USD294.7/ha.
“The subsidy standard is levelled up largely, which would build strong confidence of farmers and market,” stated Wang Xiaoyu, Deputy Secretary General of the Heilongjiang Soybean Association, “This means that the government is paying attention to and supporting the soybean business, and is increasingly stressing the importance of soybean in national grain safety.”
According to the association, if the soybean production is set at 2,250 kg/ha, the income, involving purchase price at USD0.5-0.6/kg and government subsidy at USD294.7/ha, will reach about USD630.5-743.1/ha. Though it is lower than corn planting, it to certain extent improves farmers’ activeness and confidence.
In response to the Chinese government’s “corn planting reduction” policy, Heilongjiang Province, as a conventional soybean planting area, is vigorously leading farmers to plant soybean instead of corn. According to the Information Centre, Ministry of Agriculture, the soybean planting area is expected to rise by 8.6%, back to 7.2 million ha nationwide in 2016/17. Of this, Heilongjiang Province will play a key role.
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