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December 15, 2008

 

China to curb tumble in hog prices; up reserves of commodities

 
 

China will initiate measures to prevent possible tumble in domestic hog prices, said the country's economic planner.

 

Pork prices in the country have fallen by 22 percent from the peak reached at the start of this year on higher supplies.

 

The government will also improve the state reserves system of important commodities such as grain, pork, edible vegetable oil and fertilizers, said the National Development and Reform Commission in a statement published on its Web site over the weekend.

 

China will help keep grain and other commodity prices mostly stable with policies such as minimum purchase price program, it reiterated.

 

The Ministry of Commerce also said over the weekend that it will encourage local traders and reserve companies to expand their commercial reserves for major commodities to help in the sales of agricultural products.

 

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