China to boost pork output as swine fever drives up prices

BEIJING — China is launching a nationwide initiative to boost pork production following a price spike blamed on a devastating outbreak of African swine fever.

Authorities said Wednesday that the government will take steps to accelerate the revival of hog production, prevent and control the disease and upgrade farms to further ensure pork supply and stable prices.

Peng Shaozong of the National Development and Reform Commission said government agencies will closely monitor and analyze pork prices, stabilize production and regulate the market price.

Pork prices surged 46.7% in August from a year earlier, adding 1.08 percentage points to a 2.8 percent rise in the consumer price index. The soaring price has hit Chinese consumers hard as pork accounts for more than 60% of meat consumption.

Related News

Trump breaks ice with China's Xi in letter...

Feb 9, 2017

US-USA-TRUMP-CHINA:Trump breaks ice with China's Xi in letter seeking 'constructive' ties

New Zealand central bank shifts focus to external...

Feb 9, 2017

US-NEWZEALAND-CENBANK-ASSISTANTGOV:New Zealand central bank shifts focus to external risks:...

Philippine minister says mine closures in...

Feb 9, 2017

US-PHILIPPINES-MINING:Philippine minister says mine closures in watershed areas non-negotiable

Australian banks face renewed push for intrusive...

Feb 9, 2017

US-AUSTRALIA-BANKS-INQUIRY:Australian banks face renewed push for intrusive inquiry

Pope says 'at peace' confronting Vatican...

Feb 9, 2017

US-POPE-CORRUPTION:Pope says 'at peace' confronting Vatican corruption, sex abuse

Macquarie, ING join Apple Pay in Australia in...

Feb 10, 2017

US-APPLE-AUSTRALIA-BANKS:Macquarie, ING join Apple Pay in Australia in challenge to Big Four

Search
Financial Markets

Sign up now!