China releases 30,000 tons of pork from state reserves
Chinese authorities on Thursday released 30,000 tons of pork from its central reserves to increase meat supply for the upcoming Spring Festival holiday, the National Development and Reform Commission said.
A total of 150,000 tons of reserve pork has been released into the market since December 17, 2020 to ensure supply for the New Year and Spring Festival holidays, according to the commission.
Market supply has increased because of the release, said the commission, adding that the release of local pork reserves in some regions was also welcomed by consumers.
On January 20, average pork price in 36 major cities of China went up 3.2 percent from the beginning of the year due to rise in seasonal consumption. The average price fell 4.6 percent from the same period last year.
The commission will work with other departments to supply more frozen pork from central reserves around the Spring Festival holiday and guide local authorities to increase pork reserve release to secure market supply and stabilize pork price during the holiday.