Warning as pork prices take a dive
Print Edition
China鈥檚 top economic planner yesterday issued a third-level warning for an excessive slump in hog prices, alerting pig farmers to adjust their plans to stabilize supplies.
The National Development and Reform Commission said increasing pig supplies and pork imports, as well as retreating seasonal demand, have combined to drive down prices.
The commission pledged to closely monitor price fluctuations and adjust reserves to ensure stable operation in the hog market.
Since 2021, hog prices have trended down for several consecutive months. Data from the National Bureau of Statistics showed that hog prices went down 11.2 percent in early June compared with late May.
The third-level alert is the lowest in the newly introduced warning system to alarm excessive ups and downs in hog prices.
Chinese authorities last week released a work plan to improve the mechanism for adjusting pork reserves as part of efforts to stabilize the market as it has seen frequent fluctuations.
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