Rising pork prices

Since this year, the pork price has continued to run at high level in China. The authorities have adopted measures to strengthen pork market monitoring and to guarantee pork market supply. The principal of Chinese MOFCOM Department of Market Operation and Consumption Promotion made a statement on this.

He said that since the second half of March, the pork price has continued to rise, but the range of price hike has gradually narrowed and the rising trend has slowed down. According to the monitoring of the MOFCOM, the average wholesale price of pork in 36 large and medium-sized cities last week (April 25-May 1) was RMB25.8 per kilogram, up 0.4% compared with the previous week and up 14.1% compared with the beginning of this year. The weekly sequential growth rate decreased 0.6 percentage point. The retail price of streaky pork was RMB31.4 per kilogram, up 0.3% compared with the previous week and up 8% compared with the beginning of this year. The increase of week month-on-month decreased 0.62 percentage point.

He pointed out that in order to maintain the smooth running of the market, the authorities on the one hand strengthen monitoring, pay attention to the market change of pork, immediately analyze and publish the pork market supply and price condition and play the guiding role of the information, and on the other hand strengthen regulation and increase market supply. Since last December, the MOFCOM, together with relevant departments, has put in 122,000 tons of frozen pork of central reserve to the market in seven batches. Besides, 12 provinces and cities such as Beijing, Zhejiang and Shanxi also put in local reserve pork successively, with a number of almost 30,000 tons.

He emphasized that at present, the benefit of pig farming is impressive and it mobilizes the enthusiasm of farmers to increase the pig supply. However, the growth of pig has a certain periodicity and it is estimated that the pork price will continue to fluctuate at a high level lately. But the range of increase can be controlled and supply can be guaranteed.

Source: http://english.mofcom.gov.cn/article/newsrelease/significantnews/201605/20160501318539.shtml

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