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05

2022

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07

Update: NDRC Plan to Release Pork Reserves Locally to Stabilize China’s Pork Prices

Source:

Since April this year, pig prices have entered an upward channel, rising for 11 weeks in a row recently. According to the data from MARA (the Ministry of Agriculture and Rural Affairs), the current average pork price in the domestic agricultural wholesale market has increased by 4.8% compared with prices last week.

Since April this year, pig prices have entered an upward channel, rising for 11 weeks in a row recently. According to the data from MARA (the Ministry of Agriculture and Rural Affairs), the current average pork price in the domestic agricultural wholesale market has increased by 4.8% compared with prices last week. To deal with recent irrational market behaviors such as stock hoarding to raise pig prices, NDRC is planning to cool down the market by distributing pork reserves in some local regions, thus avoiding pig prices from surging too much beyond expectations. A lot of people in the industry believe that the turning point of pig cycle has been revealed. The pig prices in July and Aug are estimated to be adjusted, but still at a high level overall.

 

Moreover, relevant industry sources said that the National Bureau of Statistics is re-examining various live pigs data reported from medium-and small-sized pig producers earlier. There are also heated discussions in the industry about the authenticity of live pig data, questioning that some pig companies previously could report inflated data to obtain state subsidies, resulting in the current supply shortage. At present, the price of pork has risen sharply. The authorities are striving to stabilize the price of pigs, so the imported pork market may face a good momentum.