Industries > Consumer Products and Services

China's hog prices decline

Xinhua News,BEIJING
2020-10-26 12:28

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BEIJING, Oct. 26 (Xinhua) -- The prices of live pigs in China declined 5 percent in mid-October compared to the previous 10 days, data from the National Bureau of Statistics (NBS) showed Monday.

Since last year, China has implemented a string of policies to stimulate hog production and stabilize pork prices affected by the African swine fever and other factors.

To cushion the impact of the COVID-19 outbreak, China has ramped up its financial support by providing subsidies and loans for major pig producing counties in a bid to restore production, and pork and hog prices have gradually declined despite some fluctuations.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions.

The NBS data also showed that of the 50 major goods monitored by the government -- including seamless steel tubes, gasoline, coal, fertilizer and some chemicals -- 34 saw prices increase during the period, nine posted lower prices and seven saw prices unchanged.
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