On July 11, the Ministry of Finance issued 300 million yuan in funds to help the poultry industry recover from the downturn caused by avian influenza earlier this year. The funds are targeted for interest rate subsidies for short-term working capital loans for companies engaged in breeding poultry and processing of poultry meat and eggs. The purpose of the subsidies is to support and protect poultry production capacity, protect farmer profits, and help the poultry industry "weather the storm."
This tranche of subsidies follows an earlier injection of 300 million yuan to subsidize purchases of grandparent breeding stock. That makes a cumulative total of 600 million yuan (nearly $100 million). The Ministry of Agriculture and other departments have implemented other measures to help the poultry industry recover from its depressed state during this year's avian influenza epidemic.
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