Tuesday, January 1, 2008

In move towards food security China imposes export tax on grains

China to slap export taxes on grains as prices soar

by Staff Writers
Beijing (AFP) Dec 30, 2007
China said on Sunday it will levy taxes on grain exports in 2008 in the latest move apparently aimed at reining in galloping inflation and ensuring stable domestic food supplies.

The rates would range from five to 25 percent, according to a brief announcement posted on the website of the Ministry of Finance.

The move goes even further than one China announced just two weeks ago, when it said it would eliminate export tax rebates on 84 categories of grain and grain products. More >>>