(Yicai Global) Dec. 26 -- The Chinese government will support its agricultural producers to encourage its citizens to drink millions of tons of more milk.
China will support dairy farmers with cheaper borrowing costs, lower utility fees, and preferential access to land to reach an annual goal of producing 45 million tons of milk by 2025, the Ministry of Agriculture and Rural Affairs, as well as other eight government bureaus said in a report that was published today.
The government will also help build co-ops and distribution systems for the growing output, particularly in areas such as the Inner Mongolia Autonomous Region, as well as the northern provinces of Heilongjiang and Hebei.
China's milk output fell 1.6 percent to 35.5 million tons last year, according to the National Bureau of Statistics.
Chinese dairy stocks have risen 0.07 percent today. Lanzhou Zhuangyuan Pasture [SZ: 002910] advanced 3.65 percent to close at CNY12.49 (USD1.81) and Xinjiang Western Animal Husbandry [SZ:300106] climbed 1.72 percent to CNY5.33.
Editor: Emmi Laine