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China to buy more pork as a reserve to counteract rising prices

China's state planner said on 30 August that it will continue to buy pork for state reserves, with the intention of boosting prices in the world's main pork market.

31 August 2021, at 9:07am

Reuters reports that Beijing bought more than 50,000 tonnes of meat during July, after pork prices fell below the cost of raising pigs.

Although this helped prices stabilize last month, they have fallen again in recent weeks, causing producers across the country to suffer losses.

The National Development and Reform Commission said in a statement on its official WeChat account that it will "once again launch the purchase work of the central pork reserve within a year."

He also urged local governments to buy pork to "ensure the smooth running of the live pig market" and said that food processing companies should take the opportunity to replenish their inventories.

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