News last update:6 Aug 2012

More corn to lower Taiwanese feed prices

Farmers in Taiwan are receiving subsidies to grow maize in order to stabilize domestic animal feed prizes.

Contracted farmers growing maize for animal feed will be eligible to receive NT$45,000 (US$1,385.68) per hectare from the government. The officials gave assurances that other farmers who use their fallow land to grow maize will also receive government assistance to market their crops.

Officials said they hoped the incentives would boost the planted acreage of maize to some 10,000 hectares and realize the production of an estimated 50,000 metric tons.

They pointed out that the wholesale price of imported maize has risen to NT$11.2 per kilogram, up 111% from July last year, triggering a new wave of prices hikes affecting the animal feed industry.

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