CHINA Farm produce prices: State Council rolls out measures to reduce pork costs in China

CHINA

Farm produce prices: State Council rolls out measures to reduce pork costs in China

CGTN

20:07, November 14, 2019

The days of high pork prices may be winding down. The Chinese government has released measures to stabilize produce costs of key farms after consumer prices rose at their fastest pace in almost eight years.

Specific measures include removing unjustified bans on pig farms, giving subsidies and importing foreign pork.

Economists said the price of pork and its substitutes will be contained, though it may take some time.

Professor Liu Baocheng from the University of International Business and Economics said local governments are removing some limitations on small pig farms previously closed for environmental concerns.

微信图片_20191114200454.jpg

China's pork population has suffered because of the African Swine Fever. (VCG Photo)

He said pig farmers are receiving subsidies and management advice from agriculture supervisors so they can raise pigs in a more efficient and environment-friendly manner.

On the other hand, import of foreign pork is also expanded. Professor Liu said this will even help with the ongoing trade talks between China and the US.

微信图片_20191114200458.jpg

A shopper reaches out for imported pork at a supermarket. (VCG Photo)

Talking about whether October's CPI means upcoming inflation, Professor Liu said he's not too worried. He said CPI is not the only indicator for inflation, and for an economy with a growth rate of six percent or more, a mild inflation would encourage people to spend ahead of time.

He said this will help with domestic consumption.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue