China asks meat packers to increase inventories, help stabilize pork prices

Published 2023년 1월 17일

Tridge summary

China's top planning body, the National Development and Reform Commission (NDRC), has urged meat packers to increase commercial hog stocks to help revive market demand and boost hog prices. The NDRC also mentioned that it would take necessary measures to promote pork market stability, including increasing meat reserves. The move comes in response to weak hog prices, which have declined due to weak consumption and increased supply, but pork consumption is expected to recover, leading to higher prices. Meat packers have agreed to consider increasing hog purchases and stocks, while the NDRC will continue to monitor hog price stability.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China's top planning body has urged meat packers to increase commercial hog stocks to help revive market demand and boost hog prices. The National Development and Reform Commission (NDRC) also said it would take timely measures such as increasing meat reserves if necessary to promote pork market stability. Pork is a popular food in China and changes in prices have an impact on inflation. The NDRC made the suggestions at a meeting recently held with some major slaughter companies in response to weak hog prices, the agency said in a statement on Saturday. Meeting participants said hog prices had declined due to weak consumption and increased supply, according to the statement. Recently, however, pork consumption has recovered, and a further pick-up in demand is expected to bring pork prices back to reasonable levels, the statement added. Meat packers said at the meeting that they ...

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