China to tap pork reserves over swine fever

Top Stories

»	India and EU discuss trade facilitation, market access under FTA
»	Centre extends customs duty exemption on cotton imports till December 31
»	Indian stock markets recover as FIIs turn buyers after 10 weeks
»	Gold, silver decline up to 2 pc on hawkish Fed signals ahead of festive buying
»	Sensex climbs over 900 points, Nifty tops 22,900 on FMCG, PSU bank rally

IANS | 19 Sep, 2019
China will on Thursday release pork supplies from its central reserves as it moves to tackle soaring prices and shortages caused by an outbreak of swine fever.

A state-backed body will auction 10,000 tonnes of frozen pork from its strategic reserves on Thursday, the BBC reported.

China, the world's biggest producer and consumer of pork, has struggled to control the spread of the disease.

Beijing has slaughtered more than 1 million pigs in a bid to contain the incurable pig virus.

Pork prices jumped 46.7 per cent in August on a year earlier, official figures showed.

In a bid to stabilise prices, a state-backed group that manages the pork reserves will auction imported frozen pork from countries including Denmark, France, the US and UK.

Only 300 tonnes will be sold to each bidder at the auction.

Pork is used widely in Chinese festivals, and the auction comes as the country prepares to celebrate a week-long national holiday for the 70th anniversary of the People's Republic of China.

Pork is one of China's main food staples and accounts for more than 60 per cent of the country's meat consumption. The industry produced close to 54 million tonnes of pork last year.