February 9, 2023

China's state planner to stockpile pork state reserves to stabilise market

China's National Development and Reform Commission said it will stockpile pork to replenish state reserves, as the country's index monitoring pork prices has fallen below the current warning level, China.org.cn reported.

The index, which is the national average of pork prices against grain price, dropped to 4.91 to 1 between January 30 to February 3. The index warning level is 5 to 1.

China introduced a three-level early warning system to raise the alarm for significant hikes or declines in swine prices, in order to stabilise the domestic pork market.

The commission announced that it will work with relevant departments to commence the prompt stockpiling of state reserves and guide local governments to buy pork.

-      China.org.cn