May 21, 2013

China's pork prices have recovered after the government's efforts to shore it up took effect.

According to the monitoring data of the Ministry of Commerce, prices rose in 18 provinces by the end of last week. The largest price increase was 2% compared with a week ago.

Pork prices have been depressed by weak demand and oversupply since the beginning of the year, leading to widespread financial losses for companies as well as farmers. In April, several government agencies rolled out the first round of State purchasing of frozen pork.

The ministry said in a statement that it has kicked off the second round, on "larger scale".