Financial news

China to release pork reserves at appropriate time: Official

By  | 

Via China Daily

A woman buys pork at a wholesale market in Dalian, Liaoning province, on Oct 20. [Photo by Liu Debin / For China Daily]

BEIJING — China will release frozen pork reserves to the market at an appropriate time to meet public demand, the country’s top economic planner said Friday.

China’s central and local governments have a certain amount of stored frozen pork reserves, Meng Wei, spokewoman for the National Development and Reform Commission, told a news conference.

The country will also step up efforts to boost hog production through central budget support to scale up breeding farms and improve waste utilization, Meng said.

China will increase the supply of alternatives to pork, including poultry, beef and mutton, and expand meat imports, she added.

Prices of pork, a staple meat in China, have been soaring in recent months, mainly affected by African swine fever and cyclical factors.

China’s consumer price index (CPI), a main gauge of inflation, rose 3.8 percent year on year last month, mainly driven by soaring pork prices, which rose 101.3 percent year on year in October, contributing nearly two-thirds of the CPI growth.

The country has taken various measures to ensure pork supply and stabilize pork prices, with governments at all levels putting great emphasis on restoring hog production, the National Bureau of Statistics said Thursday.


Print Friendly, PDF & Email

Hold dit netværk orienteret

READ ALSO  China to strengthen co-governance of IPR protection in e-commerce