More corn to lower Taiwanese feed prices

24-01-2008 | |
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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