China Looks to Drive Down Pork Prices
CHINA - The Chinese government announced a new fiscal support policy that will increase the country's supply of live pigs, which is expected to drive down pork prices and ease inflation worries, according to a meeting of the State Council, or China's cabinet, held yesterday.
14 July 2011
2 minute read
Recent steep increases in pork prices have had an impact on consumers and prompted price hikes in other areas, according to a statement released after the meeting.
Efforts should be made to ensure adequate supplies of live pigs and stabilize prices in the short-term, the statement said, adding that the policy will also help to avoid price fluctuations in the long-term.
The central government will invest 2.5 billion yuan ($384 million) in large-scale pig farms this year. Farmers will be able to receive a 100-yuan subsidy for each of the pigs they raise, according to the statement.
