February 3, 2021

China to release 30,000 tonnes of pork daily from central reserves for two days

China's National Development and Reform Commission (NDRC) said it will release 30,000 tonnes of pork on February 4 and February 9 from central reserves to ensure stable pork supplies for the upcoming Chinese Lunar New Year holidays, Xinhua News Agency reported.

Since December 17 last year, China has released 180,000 tonnes of pork from central reserves in seven rounds.

An NDRC official said the country's stable meat prices started to grow from December 2020 driven by a growing demand for pork.

The official said prices edged down in January 2021 with the release of frozen pork from central and local reserves.

The NDRC said China's live swine inventory reached 406.5 million by end-2020, recovering to 92.1% of its 2017 level. Breeding sows stock reached 41.61 million, doubled from end-2019.

The NRDC said there will be an increase in swine for slaughter in the first half of this year, which could result in declining pork prices.

- Xinhua News Agency