July 16, 2020

China releases 17,000 tonnes of pork reserves

China released 17,000 tonnes of frozen pork from its central reserves Wednesday to increase market supply and stabilise prices, the Ministry of Commerce (MOC) said, Xinhua reported.

The joint release came from the MOC and other authorities, including the National Development and Reform Commission and the Ministry of Finance.

Rising pork prices in China over the past six weeks motivated farms to reduce swine supplies, eFeedLink noted: https://www.efeedlink.com/contents/07-15-2020/8751e200-a018-487e-b6d7-8ee2ee0dc44d-a181.html

From July 6 to 10, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 50.6 yuan (about US$7.23) per kilogram, up 6.8% week-on-week.