China's pork prices edge up

BEIJING -- Pork prices in China rose last week as slaughterhouses increased hog purchases to stock up on pork ahead of the Dragon Boat Festival holiday, official data showed Tuesday.

From June 22 to 24, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 46 yuan (about $6.5) per kg, up 2.4 percent week on week.

Since the beginning of this year, the government has been taking several measures to boost supply, including releasing frozen pork reserves and increasing imports.

To cushion the impact of the novel coronavirus outbreak, China has ramped up financial support, including subsidies and loans, to major pork-producing counties in a bid to encourage hog production.