China sets cotton subsidy standard at 2,000 yuan/t for major producers
BEIJING, Nov. 5 (Xinhua) – China has set this year's subsidy standard for cotton production at 2,000 yuan/metric ton (tonne) in nine major producing provinces, the China Cotton Association said on its website Wednesday.
The nine provinces are Shandong, Hubei, Hunan, Hebei, Jiangsu, Anhui, Henan, Jiangxi and Gansu. In the following crop years, the subsidy standard in the provinces will be based on 60 percent of the cotton subsidies for Xinjiang Uygur Autonomous Region, the biggest cotton production base in China, according to the association.
The subsidy policy will help boost farmers' enthusiasm in selling new cotton, analysts say.
Currently, the target price policy for cotton production, which gives subsidies directly to farmers if market prices fall below government-set target prices, is implemented in Xinjiang as well as major cotton-growing areas along the Yangtze and Yellow rivers. (Edited by Liu Xiaoyun, firstname.lastname@example.org)