China to replenish 20,000 tonnes of pork reserves to stabilize market
China’s top economic planner said Friday it would stockpile 20,000 tonnes of frozen pork to replenish state reserves, as an index monitoring pork prices has dropped below the warning level.
The index, the national average of pork prices against grain prices, has fallen below the warning level of 5 to 1, said the National Development and Reform Commission.
According to a work plan for stabilizing the pork market, China has introduced a three-level early-warning system to raise the alarm for excessive ups and downs in hog prices.
The commission said it would work with relevant departments to start this year’s first stockpiling work for state pork reserves and guide local governments to purchase pork.
China pays close attention to price changes in the pork market and will continue to strengthen the regulation of production capacity and price to keep the market stable.
Read also
Missed BLACK SEA GRAIN? Get Full Access to Conference Insights!
Argentine soybeans may be banned in the EU due to GM
Ukraine forecasts 60.4 mln tons of grain production
Egypt plans to achieve 70% wheat self-sufficiency by 2030 thanks to EU support
Ukrainian farmers have sown over 60% of spring grain areas
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon