$439m to Support Chinese Pig and Cattle Breeding
CHINA - China has earmarked 3 billion yuan ($439 million) this year to support the large-scale breeding of pigs and cows in a bid to stabilize agricultural development and help raise farmers' incomes, the State Council said in a statement on Sunday.
12 May 2009
1 minute read
The cabinet, urged governments at all levels to put into effect all subsidy and stimulus policies regarding pig and cow breeding.
Zhang Xiaoshan, director of the rural development research institute of the Chinese Academy of Social Sciences, said the central government's announcement of the fresh investment will help stabilize pork prices, amid fears of the A(H1N1) flu.
Earlier this month, pork prices in three of the biggest markets in south China's Guangzhou dropped significantly.
Statistics released by the National Development and Reform Commission (NDRC) last week showed pork prices in major Chinese cities averaged 10.13 yuan ($1.5) per kg at the end of April, down 10.4 per cent from the same period last year.
"Since the pork available in domestic markets mostly comes from large-scale breeding farms, its price would automatically stabilize once the government implements the subsidy and stimulus policies," Zhang said.
The central government promised to double the subsidy to 100 yuan for every fertile sow since July 2008.
TheCattleSite News Desk
