Pork prices in China stabilising

After months of continuous decline, Chinese pork prices appear to be stabilising, according to statistical analysis carried out by the Xinhua News Agency.

China’s pork prices started to fall with the start of the Spring Festival (23January 2012), when farmers, who had increased their stocks last year when prices were high, now brought abundant supply to the market, driving prices down.

The government announced that it would buy frozen pork in order to stop the price plunge, and to increase national reserves.

Statistics showed that prices have been steadying since mid-May and even registered an increase of 0.1% on Sunday.