Beijing to release pork from reserves
Print Edition
THE Beijing government will release more than 3 million kilograms of frozen pork reserves in a bid to ease supply pressures and contain a price surge.
Pork prices in the capital have been rising since the Lunar New Year due to a tight supply. In April they rose more than 50 percent from March, according to official figures.
The move, which comes into effect tomorrow and will last until July 4, will see 50,000kg of pork sold cheaply to 121 major supermarkets on a daily basis.
The government will also provide subsidies of up to 9 yuan (US$1.40) per kilogram to encourage vendors to cut prices.
It will also encourage slaughterhouses to increase the pork supply through subsidies, with 20 percent more pigs to be killed during the 61-day period.
It is the first time the Beijing government has allocated reserve pork to the market since a mechanism was launched in 1992 to create reserve systems to stabilize prices of key goods.
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