Beijing govt to drop 3m kilos of pork in market to drive down prices

A Chinese pork seller talks on her phone in her stall at a market in Beijing, China, April 11, 2016. [Photo/IC]

The Beijing municipal government is placing 3.05 million kilograms of frozen pork reserves into the marketplace to alleviate a significant surge in prices, the first time the city has taken such an action.

The price of pork has been rising since February — raw pork prices surged 50.6 percent month on month in April — with little sign of retreating demand, according to the Beijing municipal government.

The government will also provide subsidies of 5 yuan per kilogram of pork sold in 555 major chain grocery stores and subsidies to slaughterhouses to increase the pork supply, Deng Hongbo, spokesman of the municipal commerce commission, said on Tuesday.

The measures, which will begin on Thursday and continue until July 4, are expected to lower the price by 18 percent, Deng said.

Deng said the government will enforce rigid inspection and sanitary standards in each facility providing frozen meat.