Why is China increasing its pork purchases?

Bloomberg news agency on November 24 commented that China's move to purchase pork is intended to increase national reserves and raise meat prices when the country is facing concerns about deflationary pressure. This is the third procurement this year. China's National Bureau of Statistics (NBS) said on November 9 that the consumer price index (CPI) decreased by 0.2% in October compared to the same period in 2022. Goldman Sachs analysts received This development mainly stems from the decrease in food prices, especially pork. Pork prices in China have decreased by 30% compared to a year ago. In the first half of November alone, this item recorded a decrease of 0.7%. People choose pork at a market in Beijing (China) - Photo: Reuters Pork is an essential food item in China. The reason for the price drop is because supply exceeds demand. China has launched two purchases of pork reserves this year to try to stabilize the market. In July, pork prices increased ...