In the latest announcement China has announced to release pork supplies from its central reserve, an act seen as a measure to tackle the surge in prices and shortages caused by the onset of swine fever.
Reports suggest, a state owned firm has announced to auction 10,000 tonnes of frozen pork from its strategic reserves. Lately, the nation has drawn concentrated efforts in controlling the spread of the disease.
China is regarded as the world’s largest producer and consumer of pork. Reports allege, Beijing has slaughtered more than 1 million pigs in order to prohibit the spread of the fatal pig virus.
Experts allege the disease is not as dangerous to humans but the country’s pig-farming industry suffered a great loss and also resulted in a price-hike for consumers. In August, the prices shot up to 46.7%.
An auction thus held to allegedly stabilize the prices will hence sell imported frozen pork from countries like France, US, Denmark and the UK. Sources report, there will be a limit of 300 tonnes to be sold to bidders at the auction.
China launched its pork reserve in 2007, however the size of the stockpile was not clear. Pork is one of the main staples of China and amounts to 60% of the nation’s meat consumption. Figures allege, 54 million tonnes of pork was produced last year.
The recent price-hike in pork has affected the household incomes, in addition to having adverse effects on the Chinese economy.