MNI BRIEF: China's Pork Reserves Secure Price Stability - NDRC

China's current pork reserves can maintain price stability, the National Development and Reform Commission said via its social media account on Friday.

"The current central and local pork reserves are generally sufficient, there is a solid foundation to deal with abnormal fluctuations in the price of live pigs and pork" the NDRC said.

Local governments are being asked to step up efforts to ensure reserves are consistently released in accordance with central planning, and the NDRC would "continue market supervision to ensure the stable operation of prices".

The NDRC comments came after pork prices increased 36% y/y in Sep and were a key factor in driving the 2.8% year-on-year rise in Sep CPI. (See MNI BRIEF: China Sep CPI Rises 2.8%; Highest Since April 2020)

This follows an announcement earlier this week that the NDRC had released additional pork reserves given price increases had reached a "warning range". (SeeMNI BRIEF: China's NDRC Taps Pork Reserve to Curb Inflation)