China stockpiles frozen pork as prices fall
China’s government has started stockpiling frozen pork to stabilise prices and protect pig breeders according to an economic planner.
The National Development and Reform Commission (NDRC) said an oversupply of live pigs would last for some time, and it advised pig breeders to reduce the sows and piglets on hand.
To avoid bringing down market prices, the stockpile price should not be lower than the average wholesale price in the area, an NDRC official said.
China’s pork prices fell 32% in May due to an oversupply and concerns that the A(H1N1) influenza virus was associated with pigs, National Bureau of Statistics revealed.
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