BUSINESS Pork prices in China rise slightly

BUSINESS

Pork prices in China rise slightly

Xinhua

19:02, June 03, 2020

BEIJING, June 3 (Xinhua) -- Pork prices in China edged up last week as demand exceeded supply, official data showed.

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Pigs are seen at pig farmer Chang Xianyun's pigsty in Neixiang County, central China's Henan Province, Nov. 27, 2019. (Photo: Xinhua)

From May 25 to 29, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 38.05 yuan (about 5.4 U.S. dollars) per kg, up 5.6 percent week on week.

Since the beginning of this year, the government has been taking several measures to boost supply, including releasing frozen pork reserves and increasing import.

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.

Pork production is expected to reach 48 million tonnes this year, five million tonnes more than last year, according to a report by the Chinese Academy of Social Sciences. 

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