Source: CCTV.com

12-07-2007 10:40

According to China's Ministry of Commerce, the country's pork prices have risen continuously for eight weeks. The ministry said it will strengthen market supervision, and may release reserve pork.

The Ministry said the main reason for the recent price hike is that demand for pork grows in the winter, especially in southern China, as people have the custom of making cured meat. Although the country increased the amount of livestock on hand, the time it takes farmers to raise pigs has made the supply grow much slower than demand. The ministry predicts that the pork price will continuously stay high before the Spring festival.

Huang Hai, Assistant Minister of Ministry of Commerce said "The pork supply is sufficient, and the amount of livestock on hand is increasing in the country's producing areas. Also, the ministry has mapped out a link-up plan for major producing areas. The amount of the country's reserve pork has gone back to normal recently, and we also got prepared through some other ways. We guarantee that the pork supply during the festival is sufficient."

Huang Hai also revealed the government will possibly bring in some kind of pork futures next year in order to stabilize the pork price. Thus pig raisers, processors and traders could avoid price fluctuations by choosing properly the time to buy in or sell out.

Meanwhile, the country will also subsidize poorer families, to help them out from the price hikes of foodstuffs, cooking oil, and meat.

Du Zhixiong, Researcher of Chinese Academy of Social Sciences said "The government should subsidize citizens who are greatly affected by the price hike, to make it possible for them to lead better lives."

The country will continuously enhance the production of necessities like foodstuff, edible oil, and meat, and put the subsidy into effect.

Editor:Xiong Qu