China To Stabilize Pork Prices

China will do more to boost pork supply and stabilize prices as part of efforts to check inflation, the state council said July 28.

Pork prices fell last week, for the first time since April, data from the Commerce Ministry showed.

The price of pork, a staple food, is particularly sensitive in China since it has a big impact on the public’s inflation expectations.

Chinese consumer inflation hit a three-year high of 6.4 per cent in June.

China will continue a slew of measures already in existence since 2007, including 2.5 billion yuan ($388 million) of special central government funds to maintain pork production capacity each year and an annual feed subsidy of 1,000 yuan for each hog.

Meanwhile, it will reward more pork production bases – 500 counties from a previous 421 – and increase compensation for putting down a sick pig to 800 yuan from 600 yuan.

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