AGL 39.50 Decreased By ▼ -0.50 (-1.25%)
AIRLINK 129.68 Increased By ▲ 0.62 (0.48%)
BOP 6.80 Increased By ▲ 0.05 (0.74%)
CNERGY 4.69 Increased By ▲ 0.20 (4.45%)
DCL 8.42 Decreased By ▼ -0.13 (-1.52%)
DFML 41.22 Increased By ▲ 0.40 (0.98%)
DGKC 81.50 Increased By ▲ 0.54 (0.67%)
FCCL 32.94 Increased By ▲ 0.17 (0.52%)
FFBL 74.50 Increased By ▲ 0.07 (0.09%)
FFL 11.81 Increased By ▲ 0.07 (0.6%)
HUBC 109.90 Increased By ▲ 0.32 (0.29%)
HUMNL 14.25 Increased By ▲ 0.50 (3.64%)
KEL 5.27 Decreased By ▼ -0.04 (-0.75%)
KOSM 7.64 Decreased By ▼ -0.08 (-1.04%)
MLCF 38.50 Decreased By ▼ -0.10 (-0.26%)
NBP 65.30 Increased By ▲ 1.79 (2.82%)
OGDC 193.50 Decreased By ▼ -1.19 (-0.61%)
PAEL 25.80 Increased By ▲ 0.09 (0.35%)
PIBTL 7.41 Increased By ▲ 0.02 (0.27%)
PPL 153.59 Decreased By ▼ -1.86 (-1.2%)
PRL 25.59 Decreased By ▼ -0.20 (-0.78%)
PTC 17.51 Increased By ▲ 0.01 (0.06%)
SEARL 79.50 Increased By ▲ 0.85 (1.08%)
TELE 7.77 Decreased By ▼ -0.09 (-1.15%)
TOMCL 33.75 Increased By ▲ 0.02 (0.06%)
TPLP 8.57 Increased By ▲ 0.17 (2.02%)
TREET 16.16 Decreased By ▼ -0.11 (-0.68%)
TRG 57.81 Decreased By ▼ -0.41 (-0.7%)
UNITY 27.55 Increased By ▲ 0.06 (0.22%)
WTL 1.39 No Change ▼ 0.00 (0%)
BR100 10,614 Increased By 168.9 (1.62%)
BR30 31,182 Decreased By -7.6 (-0.02%)
KSE100 99,085 Increased By 1286.9 (1.32%)
KSE30 30,966 Increased By 485.6 (1.59%)

The Chinese government will continue its controversial corn stockpile policy during 2015/16 and will start to stock the grain from farmers at a lower price compared with last year, government bodies said in a statement late on Friday.
Beijing will pay 2,000 yuan($314.3) per tonne to farmers in the northeast, the country's corn belt, with the scheme lasting from November 31 to April 30, 2016, said the National Development and Reform Commission (NDRC) in a joint statement with other government bodies.
The price is about 10 percent lower than the current year, ranging from 2,220-2,260 yuan per tonne, confirming an earlier Reuters' report.
Four state-owned companies, including COFCO, are allowed to purchase on behalf of the government, and Beijing will offer subsidies for the purchases as well for building grain silos, according to the statement posted on the State Grain Administration (www.chinagrain.gov.cn).
China is also expecting a record corn harvest next month after high domestic prices encouraged farmers to grow more of the grain.
Beijing will offer subsidies for building storage facilities, which are already running short as the government is sitting on more than 150 million tonnes of corn after years of stockpiling.

Copyright Reuters, 2015

Comments

Comments are closed.