MOFCOM: China to release 10,000 tonnes of pork from state reserves
The Chinese Ministry of Commerce (MOFCOM) stated on Thursday that, in a joint effort with the National Development and Reform Commission and the Ministry of Finance, 10,000 tonnes of pork will be released from state reserves to ensure pork supply during the National Day holidays.
Earlier this month, a release of 2,400 tonnes of mutton and 2,400 tonnes of beef had already hit the market to secure meat supply.
China is capable of guaranteeing meat supply with a sharp increase in meat imports and a relatively high level of frozen meat inventory, the ministry said.
It also said China's pork prices posted a slower increase recently. Average wholesale pork prices on September 18 rose 1.3 percent from prices on September 10, with the daily growth rate 0.8 percent lower than in late August.
China will continue to pay close attention to the demand and supply in the pork market and changing prices, enhance connections between pork production and sales, and strengthen forecasts and alerts related to the pork market, MOFCOM said.
The ministry and other government agencies will continue to release pork from central reserves as appropriate to guarantee pork supply.