> FILE: China mulls dipping into pork reserves to rein in costs / 1IV8YB
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FILE: China mulls dipping into pork reserves to rein in costs / 1IV8YB
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Chinese authorities could dip into strategic pork reserves in a bid to rein in prices of the staple meat, Beijing's top economic planner said Tuesday.
Pork prices in the world's second-biggest economy spiked late last month, with the meat selling for 32 percent more than in June 2021 as market supplies dropped, state media Xinhua News Agency reported.
The spike came on the back of "irrational behaviours such as blindly holding supplies and reluctance to sell in the live pig market," the National Development and Reform Commission (NDRC) said in a notice on social media. FILE IMAGES of Chinese pig farm.