BUSINESS China's pork prices decline in April

BUSINESS

China's pork prices decline in April

Xinhua

16:36, May 17, 2020

A local resident purchases pork at a farm produce market in Shanghai, on Feb 15, 2020. (Photo: Xinhua)

BEIJING - Pork prices in China edged down last month as supply increased and demand softened, official data showed.

The average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs came in at 43.37 yuan ($6) per kg in April, down 8.4 percent month-on-month.

The price retreat came as the government has been taking multi-pronged measures to boost supply, including releasing frozen pork reserves and expanding imports.

To soften the impact of the novel coronavirus outbreak, China has ramped up financial support, including subsidies and loans to major pig-producing counties to restore production.

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