China releases stockpiled pork to cool price surge
China's government is releasing pork from official stockpiles to ease a shortage and cool surging prices ahead of Oct. 1 celebrations of the Communist Party's 70th anniversary in power. A government agency that manages the stockpile said Wednesday it will auction off 10,000 tons of frozen pork.

Photo by 天琦 王 on Unsplash
Pork prices have spiked almost 50% from a year ago following a devastating outbreak of African swine fever that killed or prompted authorities to destroy more than 1 million pigs.
That has pushed up global pork prices as Chinese importers buy foreign supplies.Authorities earlier announced an initiative to revive pork production with official support to farmers including subsidies to rebuild their pig herds and improve facilities. (dpa)
Most read news
Other news from the department business & finance

Get the food & beverage industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.