CHINA China's pork prices continue to moderate

CHINA

China's pork prices continue to moderate

Xinhua

18:24, April 09, 2020

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File photo

BEIJING, April 9 (Xinhua) -- Pork prices in China continued to edge down last week as supply increased and demand softened, official data showed.

From March 30 to April 3, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs came in at 45.06 yuan (about 6.4 U.S. dollars) per kg, down 1.7 percent week on week.

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.

Prices of pork, the staple meat in China, have been soaring in recent months, mainly caused by African swine fever and cyclical factors.

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