Market to play role in agriculture
Print Edition
China is seeking to set up a “target price” system for agricultural products that allows the market to play a bigger role in pricing while ensuring benefits for farmers, the top planning agency said.
The system will see the government subsidize low-income consumers when prices rise too high and subsidize farmers when prices fall below the target rates, according to the National Development and Reform Commission.
“This year, China will let the market better play its decisive role in the formation of agricultural product prices on the premise that farmers’ interests are protected,” Xinhua news agency quoted the NDRC as saying yesterday.
The target price system will be tried out on certain selected products in certain regions, it said.
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