China Issues 2016 Corn Procurement Policy

Six relevant Chinese agencies issued the Notice on Well Handling This Years Corn Procurement Work in Northeastern Area recently, to guide Northeastern Chinas corn procurement for state reserve this year. The Notice calls on Sinograin Group, a large state-owned enterprise in charge of state grain reserves, to play a leading role in corn procurement with a policy procurement volume no less than that of last year. The Noticealso calls on Agricultural Development Bank of China and commercial financial institutions to actively launch credit loan business for corn procurements.