Pork prices in China edge down

BEIJING - Pork prices in China declined last week as supply exceeded demand, official data showed Tuesday.

From July 13 to 17, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 50.24 yuan ($ 7.19) per kg, down 0.7 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.