China will launch the second round of frozen pork stockpiling to stabilize price
- By AAC
- 07 May 2014
China will launch the second round of frozen pork stockpiling to stabilize the price. It is predicted that the stockpiling volume will reach 75,000 tonnes.
The first round of pork stockpiling volume which launched in the end of March was approximately 65,000 tonnes. The first measure boosted pork prices in a short time. Domestic average live pig price reached CNY 11.14/Kg (USD 1.79/Kg) by April 30, ending a 19-week decline. However, the pig-to-corn price ratio reached 4.64: 1, which is still significantly lower than the government plan set 6:1.
Experts believe that the government policy cannot wake of the depressed market efficiently. Oversupply is still the basic reason for the low price of live pig.
http://www.feedtrade.com.cn/livestock/pigs/2014-05-08/2069530.html