Beijing To Release Stockpiled Frozen Pork To Satisfy Demand

  • Friday, 13 May 2016 14:17
  • Published in Business News
  • Read 766 times

To contain inflation and satisfy growing demand, China’s capital city will be releasing some of its frozen pork reserves into the market for the first time.

More than three million kilograms of frozen pork, which the government had stockpiled, will be released to more than 100 supermarkets in Beijing from now till July 4, according to a statement issued by the city’s Municipal Commission of Commerce.

The Beijing government created the stockpile in 1992, as a way to stabilise prices for key goods. The agency also urged the city’s slaughterhouses to increase supply, saying those that comply will receive a government subsidy.

Pork prices in China have increased about 50 percent in the past year, fuelling worries of persistent inflation and prompting the government to tap into its reserves.

The average price of pork at the end of April reached 26.24 yuan (US$4.04) per kilogram. Prices have risen for the sixth straight week. The increase in prices is due to a number factors including a shortage of pigs in the country, as lower profit margins had prompted many to give up on raising the animals while other were driven out of the industry due to tougher environmental rules. Additionally, an outbreak of disease earlier this year had wiped out many of China’s piglets.

  • Last modified on Friday, 13 May 2016 14:22
  • font size

APFI About Us

Asia Pacific Food Industry (APFI) is Asia’s leading trade magazine for the food and beverage industry. Established in 1985, APFI is the first BPA-audited magazine and the publication of choice for professionals throughout the industry with its editorial coverage on the latest research, innovative technologies, health and nutrition trends, and market reports.

Asia Pacific Food Industry is published by Eastern Trade Media Pte Ltd. The company owns numerous trade and consumer titles, including Asia Pacific Metalworking Equipment News and Industrial Automation Asia.

Ebook

View Now