China offers incentive for non-food biofuel

 
Last Updated: Saturday 04 July 2015

China's Ministry of Finance has drawn up policies to promote the production of non-food sources for biofuels. Under the plan, the ministry will offer subsidies of about 3,000 yuan (us $408) for each hectare of biofuel plantations.

Industrial projects producing ethanol from cellulose, sweet sorghum and cassava will receive rewards ranging from 20 to 40 per cent of the total investment. The government will also provide flexible subsidies to biofuel producers if they lose money on crops in the highly volatile crude oil market.

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