Steady hog supply and price seen
Source: Xinhua |
January 12, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S pork supply and price will largely remain stable this year and the current increase in the pork price would not lead to inflation, a senior official said in Beijing yesterday.
Wang Bin, deputy director of the department of Market Operation Regulation of the Ministry of Commerce, said at a news briefing that the pork price was recovering from a decline in June, but the rise remained within a reasonable range.
China's live hog price dropped 40 percent year on year to 9.56 yuan (US$1.41) per kilogram in June as a result of oversupply. The wholesale price of pork plummeted to 14 yuan per kilogram.
The prices picked up in the second half of last year due to various measures adopted by local governments to combat the fall.
"Live hog price rose to 12.36 yuan in the first week of 2010, up 29 percent compared with six months ago. The wholesale pork price grew 22 percent to 17 yuan," Wang said.
He predicted pork price would rise modestly with the Spring Festival drawing near, which would drive up demand for pork.
But the price would drop with declining demand after the festival.
Wang Bin, deputy director of the department of Market Operation Regulation of the Ministry of Commerce, said at a news briefing that the pork price was recovering from a decline in June, but the rise remained within a reasonable range.
China's live hog price dropped 40 percent year on year to 9.56 yuan (US$1.41) per kilogram in June as a result of oversupply. The wholesale price of pork plummeted to 14 yuan per kilogram.
The prices picked up in the second half of last year due to various measures adopted by local governments to combat the fall.
"Live hog price rose to 12.36 yuan in the first week of 2010, up 29 percent compared with six months ago. The wholesale pork price grew 22 percent to 17 yuan," Wang said.
He predicted pork price would rise modestly with the Spring Festival drawing near, which would drive up demand for pork.
But the price would drop with declining demand after the festival.
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