Pork prices in china fall 2.2% in a week

Official data showed that China’s weekly pork price fell 2.2% last week on the back of increased pork supply.

From August 8th to 12th, the average price of pork in 16 provincial-level regions tracked by the Agriculture and Rural Department was 27.42 yuan (about US$4.05) per kilogram.

The price rose 32.2% year-on-year, but contracted 2.2% from the previous week’s gains. The ministry said an increase in the number of live pigs sold by large farms last week boosted the supply of pigs, making domestic breeders more willing to sell pigs.

China is stepping up market surveillance to ensure market supply and curb price increases for pork, the country’s staple food.

China’s pig supply for the second half of the year is guaranteed, and pig prices will not rise steadily and significantly, said Chen Guanghua, an official of the ministry, earlier.

Related article: China’s increasing pork price is driving inflation

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