China to auction a further 20,000 tonnes of frozen pork
China is set to auction 20,000 tonnes of frozen pork from state reserves on 7 August.According to reporting in Reuters and Market Screener, China’s Merchandise Reserve Management Centre announced the auction on its website on 4 August.
This auction closely follows a similar sell-off on 30 July. Previous analysis indicates that China is using the auctions to help stabilise soaring pork prices after outbreaks of African swine fever devastated its domestic pig herd.