Nov-26 10:41 BUSINESS
China's pork supply to continue improving amid policy suppo
The supply of pork in China is expected to continue improving and price jumps are unlikely in the remainder of 2020, as pro-hog production policies take effect and imports expand, said the agriculture ministry.
"Since the beginning of this year, local authorities have earnestly implemented a policy supporting the resumption of hog production, accelerated the expansion of farms, and put in place regular prevention and control measures for African swine fever, all of which have greatly promoted the resumption of pig production," said Wei Baigang, chief economist of the Ministry of Agriculture and Rural Affairs.
By the end of September, the number of hogs available for slaughter had reached 370 million, Wei said.
Pork prices have continued to decline for seven consecutive weeks as hog production gains further recovery momentum, Wei said.
To ensure the stable supply of the staple meat, the country has also expanded pork imports. During the January-September period, total inflows hit 3.8 million tonnes, up 132.2 percent from the same period last year, according to Chen Guanghua, deputy chief of the ministry's animal husbandry department.
The figure has already exceeded last year's total, which came in at nearly 2 million tonnes.
Since the beginning of this year, the government has been taking measures to boost supply, including releasing frozen pork reserves and increasing imports.
To cushion the impact of the novel coronavirus outbreak, China has ramped up financial supports including subsidies and loans for major pork-producing counties, in a bid to encourage hog production.
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