Pork prices in China rise slightly

Updated: Jun 03,2020 05:27 PM    Xinhua

BEIJING — Pork prices in China edged up last week as demand exceeded supply, official data showed.

From May 25 to 29, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 38.05 yuan (about $5.4) per kg, up 5.6 percent week-on-week.

Since the beginning of this year, the government has been taking several measures to boost supply, including releasing frozen pork reserves and increasing import.

To soften the impact of the novel coronavirus outbreak, China has ramped up financial support, including subsidies and loans to major pig-producing counties to restore production.

Pork production is expected to reach 48 million metric tons this year, five million tons more than last year, according to a report by the Chinese Academy of Social Sciences.