Weekly pork prices edge down in China

BEIJING -- Pork prices in China went down last week, official data showed.

From Dec 6 to 10, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs was 22.78 yuan ($3.6) per kg, down 2.5 percent week-on-week.

This figure also represented a year-on-year drop of 45.9 percent.

Since the beginning of the year, hog prices in China have fallen sharply due to a significant improvement in supply and decline in demand, prompting authorities to step in with multiple measures to stabilize the market.

Authorities have released guidelines on advancing sustainable and healthy development in the hog industry, detailing tasks to avoid drastic fluctuations in the market and ensure stable supplies.

In the coming five to 10 years, China will see cyclical market fluctuations effectively alleviated and pork supply security capabilities increased, with an aim to maintain the market's self-sufficiency rate at around 95 percent, according to the guidelines.