ANNOUNCED AS TEMPORARYNo
On the 12th of May, 2017, China's Heilongjiang province, its top corn producer, announced an adjusted subsidy scheme that will see both maize and soybeans receive higher government payments. Due to an alleged local soybean shortage, the announcement mentions that soybeans will be entitled to a higher proportion of subsidy allowance than maize.
On the 14th of October, Xinhua News confirmed* that the provincial government in Heilongjiang was cutting the subsidy for producers of the crop from USD 1.56/ha to USD 1.35/ha (CNY 153.92/mu to CNY 133.46/mu).
This drop of 13% is intended to dissuade farmers from production of corn, due to current issues in the PRC with overcapacity of the crop.
*the press release was also promulgated officially by the provincial government.
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