December 26, 2007

China's Chongqing appropriates US$2.7 million to stabilize pork prices

The Chongqing Municipal Finance Department announced to appropriate RMB20 million (US$2.7 million) in non-interest funds to stabilize the pork prices.

The announcement was confirmed by the Price Department of the National Development and Reform Commission.

Currently, the pig slaughtering volume is 9,000 heads per day in downtown Chongqing Municipality, which meets the market demands.

Since December is a peak month for traditional sausage and preserved meat processing, the pork sales volume is expected to soar soon in China.

Chongqing Municipal Commercial Committee representative estimated that the live pig demand will be 12,000-15,000 heads per day in the downtown areas after December 22, 2007.