Grain Support Prices to Further Increase in 2009

Grain Support Prices to Further Increase in 2009 DATE: 2008-10-10

Chinese Premier Wen Jiabao recently announced the government would raise the minimum purchasing price for grains in 2009, further boosting domestic grain production, supporting farmer income and reducing domestic food inflation.  This plan is another shot in the arm for grain crops, giving it an advantage over cotton in much of East China.  Cotton farming in 2009 is quickly losing its luster, as growers face a significant decline in net income for 2008.

 

Source: Glovecotnews