Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BEIJING (AP) — China's government is releasing pork from official stockpiles to ease a shortage and cool surging prices ahead of Oct. 1 celebrations of the Communist Party's 70th anniversary in power.
A government agency that manages the stockpile said Wednesday it will auction off 10,000 tons of frozen pork.
Pork prices have spiked almost 50% from a year ago following a devastating outbreak of African swine fever that killed or prompted authorities to destroy more than 1 million pigs.
That has pushed up global pork prices as Chinese importers buy foreign supplies.
Authorities earlier announced an initiative to revive pork production with official support to farmers including subsidies to rebuild their pig herds and improve facilities.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
