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China's pork supply, price to remain stable in '10: official
(Xinhua)
Updated: 2010-01-12 10:36
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China's pork supply and price would largely remain stable this year and the current rise of pork price would not lead to inflation, a senior official said?in Beijing?Monday.
Wang Bin, deputy director of the department of Market Operation Regulation of the Ministry of Commerce, said at a news briefing that pork price was recovering from the price fall last June, but the rise remained in a reasonable range.
China's live hog price dropped 40 percent year-on-year to 9.56 yuan ($1.41) per kilogram last June as a result of oversupply. The wholesale price of pork plummeted to 14 yuan per kilogram.
"Live hog price rose to 12.36 yuan in the first week of 2010, up 29 percent compared with six months ago. The wholesale pork price grew 22 percent to 17 yuan," Wang said.
He predicted pork price would rise at a modest rate in recent days with the Spring Festival drawing near, which would drive up demand for pork. But the price would drop with declining demand after the festival.
Wang also said the ministry would strengthen regulation and supervision over daily necessities to prevent drastic price fluctuations.
