Weekly pork prices drop in China


Xinhua  (China)

via Big News Network - 21st July 2021


BEIJING, July 21 (Xinhua) -- Pork prices in China went down last week as supply exceeded demand, official data showed.


From July 12 to 16, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 21.47 yuan (3.3 U.S. dollars) per kg, down 1.9 percent week on week.


This figure also represented a year-on-year drop of 57.3 percent.


China's top economic planner said Monday that it would work with related departments to intensify regulatory measures to avoid drastic ups and downs in hog prices when necessary.


Since the beginning of the year, hog prices in China have fallen sharply due to a significant improvement in supply and the decline in demand, prompting authorities to step in with multiple measures to stabilize the market...