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MNI BRIEF: China Pork Prices To Recover Towards Year-End: NDRC

MNI (BEIJING)
MNI (Beijing)

China could see a recovery in pork prices towards year end as demand increases as the weather cools and students return to school, Li Hui, a spokesperson for the National Development and Reform Commission (NDRC) said Tuesday.

Speaking at a press conference, Li noted pork prices have remained at an excessively low level for several weeks due to strong supply and weak demand, a factor which led the NDRC to launch a second round of central pork reserve purchases recently. Looking forward, the NDRC will guide farmers to rationalise production and work to ensure price stability.

Last week policymakers saw continued low CPI, with June's print flat y/y, with analysts citing weak pork prices as a contributing factor. (See: MNI: PBOC Cuts Expected, 5% GDP On Track - Economists - Bonds & Currency News | Market News)
MNI Beijing Bureau | lewis.porylo@marketnews.com
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MNI Beijing Bureau | lewis.porylo@marketnews.com
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