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China's pork prices rise in July

Source:Xinhua Date:2021-08-23

BEIJING — Pork prices in China went up last month, official data showed.

The average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 21.55 yuan (about $3.3) per kg in July, up 7.7 percent month-on-month.

The price index dropped 56.3 percent compared with the same period last year, widening by 2.2 percentage points from the previous month.

Since the beginning of the year, hog prices in China have fallen sharply due to a significant improvement in supply and the decline in demand, prompting authorities to step in with multiple measures to stabilize the market.

Earlier this month, authorities released guidelines on advancing sustainable and healthy development in the hog industry, detailing tasks to avoid drastic fluctuations in the market and ensure stable supplies.

In the coming five to 10 years, China will see cyclical market fluctuations effectively alleviated and pork supply security capabilities increased, with an aim to maintain the market's self-sufficiency rate at around 95 percent, according to the guidelines.

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