July 5, 2007

China's pork prices continue to rise sharply in June
 

China's pork prices continued to rise sharply in June as tight supply could not be eased in the short term, according to the country's economic planner.

The average price of boneless meat from pigs' hind legs was RMB19.56/kilogram last month, up 12.3 percent from May, the National Development and Reform Commission said in a statement published Wednesday (Jul 4) on its website.

Prices of rapeseed oil, soyoil and peanut oil rose 8 percent, 2.7 percent and 1.9 percent on-month respectively during the same period, it said.

Domestic pork prices have risen rapidly this year, in part because of an outbreak of blue ear disease, also called porcine reproductive and respiratory syndrome.

China's government said the outbreak eased in June compared with the same period last year.

The Ministry of Finance said late last month the government would provide subsidies and set up an insurance system for the country's pig industry in response to the price surge.