Pork Price Rises Sharply: Chinese Government Wants to Draw on National Reserves

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China is considering drawing on its strategic pork reserves to stabilize prices and curb speculation. The economic planning agency announced this on Tuesday.

 

Pork is on the menu of many Chinese every day. It is the most consumed type of meat there. But prices have risen sharply, by more than 30 percent in a month. According to the authorities, this is the result of producers’ reluctance to sell to maximize profits.

To stabilize prices and curb popular discontent, the economic planning agency on Tuesday ordered producers to slaughter regularly, warning against any form of manipulation of supply and demand.

In order to bring more meat to the market and bring prices down, consideration is also being given to drawing on the strategic reserves that China holds, the agency said.

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