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新浪首页 > 新浪教育 > Price Rise Curbed To Aid Farmers

Price Rise Curbed To Aid Farmers
http://www.sina.com.cn 2004/03/09 12:53  Shanghai Daily

  China's central government stepped in to ease financial burdens on farmers by curbing the rise in price of fertilizers.

  The National Development and Reform Commission issued an urgent circular requiring provincial-level governments to implement administrative measures to put a lid on soaring fertilizer prices, Xinhua news agency reported Saturday night.

  An unnamed official was quoted by Xinhua as saying that several ways may be carried out to control the price increase for agricultural raw materials.

  While details of the measures are still unknown, analysts say the provincial governments are set to impose ceiling prices for retailers and manufacturers.

  "It showed the central government's resolution to cut the production cost for farmers," said Wang Guangqing, an analyst with Soochow Securities Co Ltd. "The move will eventually benefit farmers who have fallen victim to the price rise."

  The price rise resulted from the soaring prices for upstream petrochemical products that are used to make fertilizers, analysts said.

  The price increases for coal and fuel also increased the costs of fertilizer production, hence the high price paid for fertilizer.

  The price for urea, a type of fertilizer, topped around 1,600 yuan (US$193) early this year, a year-on-year increase of 33 percent.

  The circular is also seen as a move to curb inflation, analysts say.

  China's rising demand for raw materials has triggered price hikes too. The price increase sparked speculation that the country's economy is likely to be sucked in an inflationary spiral.

  Earlier this year, the commission sent out supervision groups to Shandong, Henan, Anhui, Hubei, Sichuan and Yunnan provinces to investigate the fertilizer price hike, according to earlier media reports.

  Last Friday, Premier Wen Jiabao said China will lift the agriculture tax in five years to help farmers.

  (Xinhua/Shanghai Daily)




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