China’s pork prices enter level-2 warning zone for excessive rises, state planner to release 4th batch pork reserve this week
COMMODITIES POLICY & REGULATION
China’s pork prices enter level-2 warning zone for excessive rises, state planner to release 4th batch pork reserve this week
COMMODITIES POLICY & REGULATION

China’s pork prices enter level-2 warning zone for excessive rises, state planner to release 4th batch pork reserve this week

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

The average retail price of lean pork in China’s 36 major cities rose by 30% in the period of September 19 – 23 compared to the same period last year, entering the level-2 warning zone for excessive price rises, said the National Development and Reform Commission, China’s top economic planner.

China will release this year’s fourth batch of frozen pork from state reserves this week and will guide local government to release local reserves of pork, it said.

The domestic hog production capacity is largely at a reasonable level and sufficient and the number of breading hogs, piglets and finishing pigs has been rising, it said. Live hog prices have been at historical high levels and there is no foundation for continued surge in hog prices, it added.

Hog farmers are advised to make reasonable production arrangements and maintain a normal pace of hog sales, it said.

The NDRC will work with related government departments to continue to release state reserves of frozen pork and increase the release when necessary to stabilize live hog market operations, it said.