Pork supply, prices to stabilize as pig production recovers

 

By Ouyang Shijia, Chinadaily.com.cn (China) 

2020-03-19

 

China's pork supplies and prices will stabilize in the period ahead thanks to the steady recovery of pig production capacity, the country's top economic regulator said on Thursday.

 

"With a sufficient supply of industrial and agricultural products and the rapidly growing service sector, China has a firm basis for overall prices remaining stable,"Peng Shaozong, an official from the National Development and Reform Commission told a news conference.

 

Peng said the consumer price index, a main gauge of inflation, will fluctuate from high to low within a reasonable range this year, and pork prices will drop with China's pig production capacity gradually recovering.

 

NDRC data showed the average retail prices of lean pork in 36 large and medium-sized cities dropped to 64.42 yuan ($9.1) per kilogram on Wednesday, down from the peak price of 69.26 yuan in mid-February.

 

China is stepping up efforts to boost pork supplies and curb surging pork prices, taking a series of measures, including releasing frozen meat, boosting the production and supplies of alternatives, like poultry, increasing meat imports and offering subsidies for those in need...

 

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