The move is seen as related to a more stringent food security policy, with a focus on corn and stale rice. The subsidy for corn-based fuel was already down to 300 Yuan per ton in 2013 and will be a final 100 Yuan 2015 before ending in 2016. COFCO Biochemical, a major bioethanol producer, reported a decline of 45 % in operating income for 2013.
China Bio news release, August 15, 2014