China will freeze 20,000 tons of pork to try to stabilize the market

The National Development and Reform Commission of the People's Republic of China (NDRC) is going to carry out the first batch of collection and storage of frozen pork reserves after detecting a significant drop in prices. Specifically, as indicated by the Xinhua news agency, the storage of 20,000 tons of pork has been announced to replenish state reserves and thus tries to ensure that the prices of live pigs "return to a reasonable range as soon as possible." possible". The NDRC has also urged local governments to simultaneously purchase and store pork reserves. According to what they say, the price of live pigs is at a low level. Specifically, as indicated by the National Development and Reform Commission of the People's Republic of China, the national average of pork prices relative to grain prices has fallen below the warning level of 5 to 1. Under a work plan to stabilize the pork market, China has introduced a three-tier early warning system to sound the alarm of excessive ...