Pork prices in China dip in August

BEIJING -- Pork prices in China went down last month as supply exceeded demand, official data showed.

The average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 47.9 yuan ($7) per kg in August, down 2.9 percent month on month.

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 soften the impact of the novel coronavirus outbreak, China has ramped up financial support, including subsidies and loans to major pig-producing counties to restore production.