China to release this year’s third batch pork reserves this week to ensure supply before holiday
COMMODITIES POLICY & REGULATION
China to release this year’s third batch pork reserves this week to ensure supply before holiday
COMMODITIES POLICY & REGULATION

China to release this year’s third batch pork reserves this week to ensure supply before holiday

 

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China will release more frozen pork from state reserves into the market this week in order to ensure supply and maintain price stability ahead of the upcoming National Day holidays, the National Development and Reform Commission (NDRC), China top economic planner said on Thursday.

That would be the third batch this year following previous releases on Sept 17 and 8.

The NDRC will pay close attention to market changes and increase pork supply when necessary and urges hog farmers to make proper arrangements and sell hogs at a normal pace, it said.

China is expected to release a total of about 200,000 tonnes of frozen pork from state reserves in Sept, the NDRC had said on Monday, marking the highest one-month release on record, and that the release price was lower than the market price.

Domestic hog prices have fallen and since risen from the beginning of this year, and the current prices are now fluctuating between a range of 22-24 yuan ($3.1-3.4) per kilogram, also a historically high level, the NDRC said.

The NDRC said that it will prevent the prices from rising too fast over the next few months.