China requires pork producers to reduce production
The Chinese government has convened major pork producers to discuss measures to reduce pork production in the latest effort to combat oversupply and support pork prices, Bloomberg reports. About 25 farms have been invited to meet in Beijing on September 16 to share production control plans and outline the measures they have taken, according to a notice sent to companies by the Ministry of Agriculture and seen by Bloomberg.
Participants are required to provide detailed information on their sow herd reduction targets by January and production plans for the coming year, according to the ministry’s livestock bureau. The meeting, first reported by local media, will include representatives of the National Development and Reform Commission, the country’s leading economic planning body. China, the world’s largest pork producer, has urged farmers to reduce their breeding herds this year to address oversupply and deflationary pressures in the economy. Wholesale pork prices have fallen nearly 25% over the past year as consumption has fallen due to China’s slowing economy.
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