Soft commodities: Government sets new grain tariffs

Beijing / CN. (xinhua) Tariffs between five and 25 percent on grain exports are to be imposed in China during 2008, according to the Finance Ministry in a statement. This represents the latest move to discourage exporting grain abroad as domestic grain prices soar. Importers of Chinese grains, however, may be forced to source supplies elsewhere in countries such as the USA, Brazil and Argentina. As of the turn of the year, tariffs of 20 percent will be placed on exports of wheat, buckwheat, barley and oats. A 25 percent tariff will be applied to wheat flour and starch exports. For exports of corn, rice, soybeans, sorghum and millet, a lower tariff of five percent is to be imposed. Exports of corn and wheat were suspended in mid-2007 amid fears that domestic grain output would not cover domestic consumption.
More: https://news.xinhuanet.com/english/2007-12/30/content_7341020.htm