China subsidizes fertilizer producers and importers

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Last updated at: (Beijing Time) Tuesday, April 06, 2004

China subsidizes fertilizer producers and importers

The Ministry of Finance (MOF) has decided to offer subsidies to diammonium orthophosphate producers and importers at a rate of 100 yuan (12.09 US dollars) per ton.

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The Ministry of Finance (MOF) has decided to offer subsidies to diammonium orthophosphate producers and importers at a rate of 100 yuan (12.09 US dollars) per ton.

The move was adopted to increase the country's supply of chemical fertilizer, stabilize the price, boost agricultural production, and safeguard farmers' interests, the MOF said.

The policy will be provisionally carried out for one year in 2004 and the money will be allocated to local governments by the MOF.

The ministry ordered that no departments or enterprises should hold back or embezzle the money, or face severe punishment.

Source: Xinhua

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