China to replenish 20,000 tonnes of pork reserves to stabilize market

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Residents buy pork at a wholesale market in Hohhot, north China's Inner Mongolia Autonomous Region, Oct. 24, 2021. [ Photo Credit: Xinhua/Peng Yuan]

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.


Xinhua News Agency

Founded in 1931, Xinhua News Agency is one of the largest news organizations in the world, with over 10,000 employees across the globe. As the main source of news and information for China, Xinhua plays a key role in shaping the country's media landscape and communicating its perspectives to the world. The agency produces a wide range of content, including text news articles, photos, videos, and social media posts, in both Chinese and English, and its reports are widely used by media organizations around the world. Xinhua also operates several international bureaus, including in key capitals like Washington, D.C., Moscow, and London, to provide in-depth coverage of global events.

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