March 20, 2008

China to release 500,000 tonnes frozen meat on looming pork shortage

China's government said it would release a total of 500,000 tonnes of frozen meat reserves due to the expected pork shortage in June and July.

The expected shortage has been triggered by the recent snowstorms that hit the country at the start of the year, which resulted to the deaths of a large number of animals.

The Chinese government braces for a longer than initially forecast period for the pig industry to get back to its normal level to meet intense demand.

China consumes around 4 million tonnes of pork every month, accounting for 65 percent of total meat consumption.

Soaring pork prices have aggravated the incessant rise of Chinese food prices, driving inflation to an eleven-year high of 6.9 percent in November 2007.