China to Take Actions to Steady Pork Price When Necessary
Dou Shicong
/SOURCE : yicai
China to Take Actions to Steady Pork Price When Necessary

(Yicai Global) May 17 -- Chinese authorities will take actions to steady pork supply and prices to ensure people's wellbeing when necessary.

The national average live pig price rose 8.9 percent from the start of the year and 45.8 percent annually to CNY15.16 (USD2.19) per kilogram as of May 8, National Development and Reform Commission spokesperson Meng Wei said, adding that increase is due to the low base price last year when it hit a seven-year low. 

The pork price will go up to some extent later this year due to the effects of African swine flu and cyclical changes. However, it will not greatly affect Chinese consumption because of the sufficient supply of domestic poultry, aquatic products and eggs, Meng added.

The impact of pork prices on the consumer price index should not be overestimated, he said, adding that the NDRC expected the CPI to remain stable this year and annual growth to remain within the predicted target range.

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Keywords: National Development and Reform Commission , CPI , Pork Price