Pork prices in China edge up

BEIJING - Pork prices in China rose last week as bullish sentiment motivated pig farms to reduce the supply of hogs, official data showed Tuesday.

From June 29 to July 3, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 47.37 yuan ($6.74) per kg, up 3 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, for major pork-producing counties in a bid to encourage hog production.