China announces steps to stem long-term slide in pork prices

China announced a slew of measures aimed at preventing any possible long-term slide in pork prices to ensure a steady output and help protect growers' income.

The government will step in to help adjust supply and demand to ease the pressure of price fluctuations, if needed, according to a statement published late Tuesday (January 13) on the National Development and Reform Commission's Web site.

The government will use a formula linked to grain prices to ascertain reasonable pork prices, it said. Other standards such as hog numbers and piglet prices will also be considered for fixing the price, said the statement.

Once pork prices rise to more than 9 times that of grain, the government will release its reserved frozen meat to meet market demand or sell it with subsidies to people who need them, said the statement.

The government will also use other measures such as increasing the volume of reserves and adjusting its import and export policy to keep pork prices stable, it said.

China's pork prices have risen 7.7 percent since late November, after falling for the most time of last year amid ample supply, according to data from the Ministry of Commerce.