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The index, the national average of pork prices against grain prices, came in at 4.98 to 1 between February 21 and 25, falling below the warning level of 5 to 1, said the National Development and Reform Commission. The announcement that China intended to stockpile pork came on Monday, February 28.
According to a work plan for stabilizing the pork market, China has introduced a three-level early-warning system to alert to excessive ups and downs in hog prices. A warning was also issued in the last week of January when the index came in at 5.57 to 1.
The commission said it would work with relevant authorities to immediately start the stockpiling work for state reserves and guide local governments to purchase pork. Stockpiling work has begun in provincial-level regions, including Beijing, Jiangxi, Hubei, and Chongqing. Other areas will start the work soon, according to the commission.
February 28, 2022/ Xinhua/ China.
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