China buys 20,000 tonnes of frozen pork for its state reserves

China buys 20,000 tonnes of frozen pork for its state reserves

China purchased 20,000 tonnes of frozen pork for its state reserves on July 7.

Live hog prices in the world’s top pork producer plunged 65 per cent from January to early June as outbreaks of disease triggered panic selling, and as a glut of large pigs were sent to slaughter.

Falling prices eroded profits for farmers and raised concerns that many would stop farming, triggering shortages later on.

Beijing last bought from the market in February and March 2019, when it made three purchases totalling 200,000 tonnes.

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