China giving farmers subsidies to plant soya beans

Beijing

CHINA'S top grain province is offering farmers subsidies of 150 yuan (S$30.46) per mu (0.067 hectare) to rotate corn with soya beans, as it seeks to cut corn output amid huge oversupply.

The move, part of a major overhaul of Beijing's grain policy, is expected to significantly boost planting of soya beans next year, although it is unlikely to dent imports by the world's top soya buyer.