Market Chatter: Chinese Government Calls Agriculture Firms to Discuss Output Cuts

MT Newswires Live09-11

Muyuan Foods (SHE:002714) and Wens Foodstuff Group (SHE:300498) were among 25 Chinese agriculture and livestock firms that were called to discuss measures to cut production, Bloomberg News reported Thursday, citing a notice from the agriculture ministry.

Some of the proposals to be put forward during the gathering in Beijing on Sept. 16 should include plans to control output, including targets for reducing sow numbers by January, while firms will also highlight the measures they have taken so far, the report said.

The National Development and Reform Commission, Beijing's top economic planning agency, will be included in the meeting, the report said.

China's farm ministry did not immediately reply to Bloomberg's request for comment, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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