China's pork prices fell again last week

Pork prices in China maintained the trend of decline in the week from November 28 to December 2, 2022, amid the country's efforts to increase supply and stabilize pork prices, official data showed.

During this period, the average pork price tracked by the Ministry of Agriculture and Rural Affairs stood at 28.62 yuan (about 4.10 US dollars) per kg, down 3.6 percent week on week.

The price was 22.5 percent higher compared to the same period last year, but the growth narrowed by 3 percentage points from the previous week.

To maintain supply and price stability, Chinese authorities have released seven batches of pork from central reserves into the market and urged local governments to increase pork release, according to the National Development and Reform Commission.

The average weekly pork price tracked by the government has dropped on a weekly basis since late October, the data showed.