China will strengthen its frozen pork reserves to cope with pork prices falling to their lowest in eight years.

Foreign Media: China will increase its frozen pork reserve efforts as pig prices have fallen to the lowest level in nearly eight years.

In the fourth week of March, the national average pig price dropped to 10.68 yuan per kilogram, marking the lowest level in eight years, which has impacted farmers' incomes and intensified deflationary pressures.

To address this situation, Chinese ministries including the Ministry of Commerce will jointly launch a second round of frozen pork reserve operations.

Pork prices have significant influence on China's Consumer Price Index (CPI), due to their substantial weight within food categories. A decline in pig prices not only affects consumer prices but also squeezes the income of numerous pig farmers. Meanwhile, rising global oil, grain, and feed prices are further increasing production costs. Previously, Beijing had already conducted one round of pork reserves in March to stabilize the market.

Original Source: toutiao.com/article/1861467629714699/

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