June 28, 2007

China issues measures to curb pork price

China's Ministry of Finance (MOF) recently issued the 'Circular on Responding to Price Hike of Pork and Promoting Healthy Development of Live Pig Industry" to check the growing pork prices in the country and prevent the further occurrence of such price increases.

Among the measures are improvements to be made to its pre- warning and monitoring system, its food reserve system, an increase of the State meat reserve and an adjustment of the reserve structure and layout, said Zhu Zhigang, vice minister of Finance.

The measures were aimed at constructing a long-term effective mechanism to ensure healthy development of live pig industry.

China has recently implemented a state-financed insurance scheme for its pig herd.