Price of pork flies to new high

By Xin Dingding (China Daily )
Updated: 2007-05-23 09:04

The price of pork has hit a new high in many cities due to a decrease in the number of pigs, but analysts said the price hike will not last too long.

A consumer walks past a pork booth at a market in Nanjing, east China's Jiangsu province May 23, 2007. China is planning to set up a "meat reserve" if the domestic pork and poultry prices keep rising, media reported on Wednesday, days after pork hit a record high in parts of China.  [Reuters]

In Qingdao in East China's Shandong Province, pork prices have been adjusted at least four times this month. A local food company manager said prices have increased by 20 percent in a fortnight to a record 21 yuan ($2.74) per kilogram.

Changchun, Jilin Province and Shenyang, Liaoning Province, both in Northeast China, are experiencing their highest prices for pork in 10 years.

The rise in corn prices has had a knock-on affect on pork prices as corn is used as pig feed.

A report by the Ministry of Agriculture shows that corn prices have been increasing in the past six months.

However, Zhang Zhiqiang from the Jinan pricing administration, was quoted by China Radio International as saying in two to three months' time more pigs will be ready to go on the market.

He said the demand for vegetables normally increases in summer, and people also have the choice of beef, mutton, chicken and fish, which are in abundant supply.

A supermarket salesman in Beijing said fewer people are buying pork this week.

A consumer in Beijing expressed concern over the hike in pork prices. She said government departments should intervene in cooling down prices.

The Beijing News reported that some departments have sent inspectors to pork markets around the country to carry out investigations.


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