Pork prices will stay high this year, but price rises are controllable since the Ministry of Commerce (MOC) has taken measures to ensure a stable pork supply, a MOC official said on Thursday [5 May 2016]. The average wholesale pork price hit 25.8 yuan (3.96 U.S. dollars) per kg last week, up 0.4 percent from the previous week, or 14.1 percent higher than the price registered at the beginning of the year, the official told a briefing, citing a nationwide survey conducted by the MOC…Full Article: Xinhua May 2016
- In December 2015, China began releasing frozen pork from state reserves in 12 regions including Beijing, Zhejiang, and Shaanxi. As of mid-2016, approximately 150,000 MTs of frozen pork has been released to dampen domestic pork prices.
- In late April 2016, China’s average pork price totaled CNY 26.24 [~US$4.04] per kg. A stark increase from the CNY 17.88 recorded in April 2015.
- From May 5 to July 4 (2016), Beijing will release 3,050 MTs of frozen pork from its reserves, including 50 MTs that will be sold daily to 121 supermarkets. Additionally, the government will provide subsidies to abattoirs, as well as to vendors (subsidy of up to CNY 9 or US$1.40 per kg sold).
- In March 2016, Beijing’s Xinfadi wholesale market noted a nearly 60% increase in pork prices versus the previous year.