China releases 20,000 tons of central pork reserves
Chinese authorities on Friday stepped up efforts to stabilize pork prices with the release of 20,000 tons of pork from central reserves while reiterating their resolution to combat the fluctuation of pork prices.
A batch of 20,000 tons of pork from central reserves was released for bidding on Friday. It is the sixth batch of central reserves to be released by China in 2022. A total of 107,100 tons of pork have been released into the market in the past five rounds of issuance since September, Beijing News reported.
The issuance of the central pork reserve comes as China’s National Development and Reform Commission (NDRC), the country’s top economic planner, said that it would step up efforts to stabilize pig prices amid soaring pork prices.
NDRC said on its official WeChat account on Friday that all localities are required to increase the release of pork reserves in order to meet the demand for key festive consumption such as New Year’s Day and Chinese New Year, and in areas where prices are too high.
The NDRC stressed that at present, pork reserves at the central and local levels remain sufficient, and there is a solid basis for dealing with the abnormal fluctuation in pork prices.
By Global Times
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