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16

2022

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07

26 tons of Spanish Pork Successfully Judicial Sold in Beijing

Source:

Recently, the judicial auction platform of Beijing Haidian Court launched 26 tons of imported pork, attracting two buyers to raise their placards for 14 rounds of bidding. On July 6, Mr. Jiang won the bid at a price of more than 540,000 yuan and received the batch of pork on July 12.

Recently, the judicial auction platform of Beijing Haidian Court launched 26 tons of imported pork, attracting two buyers to raise their placards for 14 rounds of bidding. On July 6, Mr. Jiang won the bid at a price of more than 540,000 yuan and received the batch of pork on July 12.

 

In October 2020, Company B signed a sales contract with Company A, agreeing to purchase 26 tons of imported pork at a price of 925,000 yuan, and Company A would import pork and go through customs clearance procedures according to the contract.

 

Unexpectedly, pork prices dropped sharply, thus Company B refused to pay and pick up the goods as agreed and there was also no bank deposit or property available for direct disposal under its name.

 

Considering that frozen pork is difficult to preserve for a long time, the court decided to judicially auction the seized pork. It took only 23 days from the sale announcement to the final transaction.

 

This judicial auction coincides with the "618" mid-year promotion days in China. Previously, two parties involved in this batch of imported pork had disputes over the contract. Although the court had already made a judgment, it was still not enforced.

 

In order to protect the rights and interests, the Haidian court decided to sell the batch of pork that is still stored in the cold storage. After negotiation between the two parties, an agreement was reached on the sale price of pork, which was sold at a price of 19,000 yuan/ton. In the end, the starting price of this batch of pork was set at 482,126.33 yuan, with price growth of 4,800 yuan.

 

The sale is planned to be publicly held from 12:00 on June 29 to 12:00 on August 27, 2022. However, it only took 23 days from the beginning to the final transaction. The final transaction price was more than 540,000 yuan (about 21,000 yuan per ton), which was lower than the current market price. That may be why this auction quickly ends.

 

This is not the first judicial auction of pigs. On the eve of the Spring Festival in 2019, the People's Court of Ouhai District, Wenzhou City, Zhejiang Province successfully auctioned 120 and 180 live pigs for 158,000 yuan and 247,000 yuan respectively on the Taobao judicial auction platform.

 

At that time, to catch up with the favorable opportunity for local people to dry bacon, prepare pork for the New Year, the court quickly started the evaluation to auction the commodity pig online. For nursing pigs, piglets, sows, and boars, the court makes no disposition, giving the farm a chance to restore.

 

Before the auction started, the court also advertised it on the WeChat public account. On the bidding day, it attracted 2,295 onlookers, and finally, 300 live pigs were sold.

 

Three Ministries Held Meetings About the Pig Market Situations

 

"Pork" has been a heated topic recently. The rise in pork prices not only affects the CPI but also made the National Development and Reform Commission (NDRC), the National Bureau of Statistics (NBS), and the Ministry of Commerce (MOF) speak out on the same day on July 14.

 

The National Bureau of Statistics has monitored the market prices of 50 important means of production in 9 categories in the national circulation field. On July 14, the bureau released the market price changes data in early July. Compared with the first ten days of July this year, the prices of eight kinds of products increased, 39 kinds decreased, and 3 kinds are stable. Among them, the price of live pigs (DLY) was 22.3 yuan/kg, a surge of 21.9% compared with late June.

 

Pork prices have climbed nearly 30% in two months, including a soar since late June. Data last week showed that the price of live pigs was 18.3 yuan/kg in late June, up 32% year-on-year.

 

On July 14, the National Development and Reform Commission held a media briefing on the economic situation in the first half of the year. At the meeting, Wan Jinsong, director of the Price Department, said that the authority would continue to closely track the overall price level and the price trend of important commodities, and strengthen market regulation to ensure supply and prices stable. The central pork reserves will be released by local governments in a timely manner when necessary.

 

At the regular press conference of the Ministry of Commerce, the spokesperson Shu Jueting said that since mid-June, pork prices have risen for multiple factors. At present, the capacity production of live pigs is in a normal and reasonable range. At the end of May, there were 41.92 million breeding sows in the country, and the pork market supply was generally sufficient.

 

The Ministry of Commerce will work with relevant departments to actively take measures to ensure supply and price stability in the pork market: First, continue to strengthen the monitoring of the meat market, release information such as supply, demand, and prices in a timely manner to stabilize market expectations . The second is to give full play to the adjustment function of pork reserves combined with the market situation. The third is to guide some areas affected by the epidemic to strengthen the connection between production and sales, increase market supply, ensuring residents' meat consumption.

 

On July 13, the Ministry of Agriculture and Rural Affairs held a pig production symposium in Cangzhou City, Hebei Province, to analyze the current pig market situation and to stabilize the production and supply of pigs in the second half of the year.

 

The meeting emphasized that all localities should conscientiously implement the provincial general responsibility requirement for stable production of live pigs to stabilize the pork supply in the market. It is necessary to adhere to stabilize market expectations, pig production and supply. The authority needs to strengthen the monitoring and early warning of pig market to keep the live pig production capacity stable within a reasonable range. Also, the government needs to normalize the prevention and control of African Swine Fever (ASF), making it not rebound. Moreover, facility-based large-scale breeding needs to vigorously developed, improving the modern pig circulation system.