China rejects now also its intervention system for rapeseed

China refrains from its intervention program for rape seed this year and wants to offer instead in five regions subsidies farmers and Millers. You want to achieve, the State supplies be reduced and avoided the cheap import. Already last year Beijing had given up the intervention of cotton and soybeans, more important to the game between supply and demand and to avoid paid artificially high prices by the State. The Central Government had spent immense sums for it to support incomes in rural areas about the intervention. Nevertheless, the acreage for canola were decreased year after year.
The previous intervention program, which was introduced in 2008, has led to a State population of nearly six million tons of rapeseed oil, which annually storage costs must be paid in the amount of $241,6. The local rapeseed prices were through the intervention on a nearly 40% higher than on the world market driven, of which benefited in particular the exporter in Canada. One end of the intervention policy would limit imports from China and put the global canola price under pressure.
The national supply of canola seed from the local cultivation will increase according to expert estimates in the CNGOIC in 2015/16 to 800,000 tons. China's imports could then fall by 6% to 4.8 million tons. There were still 5.1 million tonnes in 2014/15. Other estimators assume that imports of only 4.2 million tons.
Still, the Government has not communicated details of the subsidies. This complicated the local production of oil purchases from the next harvest because farmers are not prepared to sell lower prices than in the previous year to 40%.

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