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Supply to Continue to Exceed Demand for Live Pigs

by 5m Editor
3 July 2009, at 11:04am

CHINA - Although live pig prices have rebounded recently, supply will continue to exceed demand in the live pig market for some time, according to an analysis by the National Development and Reform Commission (NDRC).

Thanks to the timely launch of a contingency plan to prevent excessively low live pig prices, which involves disseminating early warning information, collecting frozen meat for centralized storage at 35 depots around the country and other measures, the situation of decreasing prices changed in early May.

Live pig market prices have consecutively increased over the past three weeks.

The average price of a live pig in 36 large- and medium-sized cities was 10.30 yuan per kilogram, 0.6 yuan higher than the average price when the contingency plan was launched, an increase of 6.18 per cent, according to data released by the Price Monitoring Center under the NDRC on 24 June.