//15 Jul 2011
The price of pork in China is currently sky-rocketing, in order to bring down the prices, the Chinese government will release some pork reserves onto the market.
It has been reported that the central pork reserves stands at 200,000 tonnes, and this amount will be gradually boosted, for better impact on future price levels. Yao Jian, Ministry of Commerce spokesman stated that the government will release some stocks held by the central and local governments "in a timely fashion."
The release of pork reserves onto the market, comes at a time when pork prices recently reached record levels last month, increasing 57% from a year earlier.
According to analysts the pork price hike is a result of a falling hog population due to factors such as swine flu culling in 2009 and Foot and Mouth disease last year.
Curb inflation
On Wednesday, the Chinese government also said that there is a new fiscal support policy to boost the country's supply of live pigs. The announcement by the Chinese government of the new fiscal support policy is expected to bring down pork prices and curb soaring inflation. Also, there will be an investment of 2.5 billion yuan ($390 million) in large pig farms.
Also read: China to increase pig supply, curb inflation
Showing posts with label reserves. Show all posts
Showing posts with label reserves. Show all posts
24 June 2011
China's grain reserves free from contamination
//23 Jun 2011
China has conducted a nationwide inspection of its grain reserves and found them safe for consumption, a senior official of the State Administration of Grain (SAG) said.
According to a statement by SAG deputy head Zeng Liying, the inspection indicates that the state's grain reserves are "well-preserved" and grain inventory is trustworthy.
During the inspection, which was conducted over the first half of last year, 5,370 samples were taken from 1,157 grain depots nationwide. Inspectors checked the samples for contaminants such as pesticide residue, heavy metals and mycotoxins. The results showed that 97.3% of the samples were found to be of "safe" quality.
The announcement came as the country increased efforts to reap summer grains in 2011 while some of its grain production provinces are plaguing by a lingering drought and deadly floods.
The country's grain output rose 2.9% year-on-year in 2010 to reach 546.41 million metric tonnes, marking the seventh consecutive year of growth.
Another inspection, this time of wheat reserves that were purchased in 2010 summer in provinces of Jiangsu, Anhui, Hubei and Henan, found that 1,656 of the inspection's 5,378 samples contained an excessive amount of mycotoxins, according to the SAG statement.
A total of 1.75 million metric tons of contaminated wheat was sealed up to prevent the spread of mycotoxins, the statement said. The administration did not mention whether contaminated grain reserves were found elsewhere
China has conducted a nationwide inspection of its grain reserves and found them safe for consumption, a senior official of the State Administration of Grain (SAG) said.
According to a statement by SAG deputy head Zeng Liying, the inspection indicates that the state's grain reserves are "well-preserved" and grain inventory is trustworthy.
During the inspection, which was conducted over the first half of last year, 5,370 samples were taken from 1,157 grain depots nationwide. Inspectors checked the samples for contaminants such as pesticide residue, heavy metals and mycotoxins. The results showed that 97.3% of the samples were found to be of "safe" quality.
The announcement came as the country increased efforts to reap summer grains in 2011 while some of its grain production provinces are plaguing by a lingering drought and deadly floods.
The country's grain output rose 2.9% year-on-year in 2010 to reach 546.41 million metric tonnes, marking the seventh consecutive year of growth.
Another inspection, this time of wheat reserves that were purchased in 2010 summer in provinces of Jiangsu, Anhui, Hubei and Henan, found that 1,656 of the inspection's 5,378 samples contained an excessive amount of mycotoxins, according to the SAG statement.
A total of 1.75 million metric tons of contaminated wheat was sealed up to prevent the spread of mycotoxins, the statement said. The administration did not mention whether contaminated grain reserves were found elsewhere
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