Pork prices are stabilizing

BEIJING TIME, Sept. 18 (Zhou Ruixuchen) Meng Wei, spokesman for the National Development and Reform Commission of China, said on Sept. 18 that pork prices in China have tended to stabilize from recent monitoring.
DATA FIGURE: In a farmer’s market, vendors are putting pork on display. CHINA NEWS REPORTER CHEN Chao-zhao
In recent years, the rise of pork prices in China has attracted attention from all sides.
China’s pork prices rose 46.7% year-on-year in August 2019, affecting CPI by about 1.08 percentage points, according to data from the National Bureau of Statistics.
Meng Wei pointed out that from the recent monitoring situation, pork prices in China tend to be stable. From September 11 to 17, the average daily increase of pork retail prices in 36 large and medium-sized cities was 0.28%, which was significantly narrower than that in August. On the second day of the Mid-Autumn Festival (September 14), pork prices dropped by 0.22%, while in 36 large and medium-sized cities, pork prices rose by 13 flat. Fruit and vegetable prices fell slightly. On September 17, the average prices of fruits and vegetables fell by 3.2% and 2.2% respectively compared with the end of August.
Meng Wei said that from January to August 2019, China’s CPI rose by an average of 2.4% year-on-year. Overall, China’s prices remain within a reasonable range. In addition, the structural characteristics of the current price rise are obvious, mainly reflected in the rise in food prices.
She pointed out that, influenced by factors such as the African swine plague, pork prices rose significantly, driving food prices up considerably. But excluding the core CPI of food and energy prices, the index rose 1.5% year-on-year in August and 1.7% on average from January to August.
Meng Wei said that since 2019, the National Development and Reform Commission (NDRC) and relevant departments have issued a series of policies and measures to ensure market supply and promote basic price stability. For example, we should take the lead in formulating and promulgating plans and measures to ensure supply and price stability, vigorously support the capacity-building of pig breeding, enhance the capacity of reserve regulation and control, and earnestly guarantee the basic livelihood of the people in need. At present, some measures have been effectively implemented, and have produced some positive results.
Meng Wei predicted that, from the price trend analysis, prices are expected to continue to run smoothly during the National Day. The National Development and Reform Commission will continue to closely monitor the price changes of important commodities for people’s livelihood with relevant departments, and take appropriate regulatory measures in time to maintain basic price stability. (end)


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