China’s National Development and Reform Commission (NDRC) has issued a statement saying the agency plans to improve the use of pork reserves to help stabilize hog production and pork prices.
With China’s domestic pork production impacted significantly by African swine fever (ASF), releases from the central pork reserve have been used primarily as a tool for tempering pork price increases. But with hog prices recently dropping more than anticipated, the NDRC statement suggests it will take a more active role in the strategic purchase of domestic pork to bolster prices.
Coverage of the NDRC announcement is available from Reuters. USMEF will provide updates as more details become available.