China's pork price falls last week-Xinhua

China's pork price falls last week

Source: Xinhua

Editor: huaxia

2022-08-16 19:43:45

BEIJING, Aug. 16 (Xinhua) -- China's weekly pork price dropped 2.2 percent last week driven by the increase in hog supply, official data showed.

From Aug. 8 to 12, the average pork price in 16 provincial-level regions, which was tracked by the Ministry of Agriculture and Rural Affairs, stood at 27.42 yuan (about 4.05 U.S. dollars) per kg.

The price rose 32.2 percent year on year, but narrowed by 2.2 percentage points compared with the growth in the previous week.

Pork supply expanded last week as the number of live pigs sold by scale farms increased, while household raisers were more willing to sell hogs, according to the ministry.

China has tightened market oversight to ensure the market supply of pork, the country's staple meat, and rein in price hikes.

The country's hog supply in the second half of this year is guaranteed and hog prices will not rise continuously and substantially, Chen Guanghua, an official with the ministry, said earlier.