ShapeShapeauthorShapechevroncrossShapeShapeShapeGrouphamburgerhomeGroupmagnifyShapeShapeShaperssShape

Prices rise while ministry takes measures to ensure supplies

by 5m Editor
9 November 2007, at 9:47am

BEIJING - China's wholesale price of pork leapt back up to 18.69 yuan (US$2.5) per kilogram on 5 November, a 5.4 percent rise on October prices. Although, prices in large and medium-sized cities was still 7.5 percent lower than the record level set in August

The Ministry of Commerce (MOFCOM) said the hike is in response to increasing demand and rising breeding and transportation costs.

The price of pork almost doubled this year before starting to decline in mid-August. The sharp price rises drove up China's consumer price index to an 11-year-high of 6.5 percent in August.

MOFCOM has urged local authorities to improve the pork reserve system and strengthen pork quality checks to guarantee pork supply. It has also hinted that it will take measures to ensure the supply of pork and edible oil. Alongside pork, the average retail price of peanut oil, soybean oil and rapeseed oil has increased from between 0.7 and 1.1 percent from early October.

Plans are in progress to improve the distribution network and market supplies of both of these staple foods. The creation of an emergency supply network is a priority, said a Ministry spokesman and the pork reserve system will definitely be improved.

Meat safety is also a prime objective and the Government has stepped up measures to prevent illegal slaughtering of pigs and other violations of the law, such as the sale of pigs injected with water or pork from diseased pigs.

5m Editor