China to release second batch of pork reserves this week – state planner

 

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China will release additional pork into the market from state reserves this week to ensure pork supplies and maintain stability in prices, the country’s top economic planner said Tuesday.

This will be the second batch of pork released from the state reserves this year, said the National Development and Reform Commission (NDRC).

The NDRC will closely monitor pork supply and prices, make necessary adjustment with state reserves and increase injection when necessary, it said.

The NDRC last week released this year’s first batch of frozen pork reserves to ensure supply and stable prices in two major holidays – the Mid-Autumn Festival and the National Day Holiday.

It also pledged to guide local governments to further release their frozen pork reserves and South China’s Guangxi Zhuang Autonomous Region, Southwest China’s Sichuan, Northeast China’s Jilin and other provinces had already started releasing pork reserves, the NDRC said at the time.

China’s pork prices have seen a rapid growth since July. The previous round of price drop dampened hog farmers’ enthusiasm for production, and when the current price increase cycle begins, farmers have tended to hold stock and wait for higher prices, while on the demand side, as the holidays are approaching and catering industries are recovering, market demand for pork are growing and is expected to further increase in the following months, analysts say.