China to replenish pork reserves to stabilize market

China’s top economic planner said Monday it will stockpile pork, the country’s staple meat, to replenish state reserves, as an index monitoring pork prices has dropped below a warning level.

The index, the national average of pork prices against grain prices, came in at 4.96 to 1 between Jan. 30 and Feb. 3, falling below the warning level of 5 to 1, said the National Development and Reform Commission.

According to a work plan for stabilizing the pork market, China has introduced a three-level early-warning system to raise the alarm for excessive ups and downs in hog prices.

The commission said it would work with relevant departments to immediately start the stockpiling work for state reserves and guide local governments to purchase pork. Enditem