June 17, 2020

China's hog prices increase 8.5%

According to data from the National Bureau of Statistics on Monday, prices of live pigs in China climbed up 8.5% in early June compared with the past 10 days, reported Xinhua.

Since last year, China has implemented a string of policies to encourage hog production and stabilise pork prices affected by African swine fever and other factors.

To soften the impact of the novel coronavirus outbreak, China has ramped up financial support including subsidies and loans to major pig producing counties to restore production, and pork and hog prices have gradually retreated despite some fluctuations.

Monday's data also showed that of the 50 major goods monitored by the government, including seamless steel tubes, gasoline, coal, fertiliser and some chemicals, 32 saw prices increase during the period, 14 posted lower prices and four saw prices unchanged.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions.