ANNOUNCED AS TEMPORARYNo
On the 20th of June 2017, an announcement from the Chinese Ministry of Agriculture revealed that a new programme would be rolled out in several regions of the country to try and rectify some of the effects of the corn overproduction trend witnessed in recent years, as well as problems arising from pollution.
According to the document, the funds will be distributed to make up for any projected short-term losses farmers have to deal with due to the establishment of the new rotation system.
25.6bn CNY (376m USD) in subsidies will be given to domestic corn farmers who rotate their land with other crops, as well as designating periods of fallow land, through bank loans, preferential interest rates and also direct handouts.
The scheme is billed to continue indefinitely, subject to a review in three years.
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