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Officials: pork prices unlikely to jump

CCTV.com

04-08-2016 06:52 BJT

Chinese people are taking the heat from more expensive pork, which rose almost 10 percent last month. Why so and will it continue to rise? Agriculture ministry said the recent gains are correcting the long-time low price in the past and there is no basis for continuous rise.

The Agriculture Ministry says the ongoing increase in pork prices is a market correction from the past three years and prices won't, well, go hog wild.

Pork prices fluctuate each year. But this time, things are different. Several local governments last year issued regulations supporting large environmentally conscious pig farms while discouraging small operations that cause pollution. Ten provincial governments now have either issued or are preparing to issue regulations concerning pig farms.

According to the agriculture ministry, over half of the pigs are raised by small-sized farms, which would be heavily influenced by market sentiment. The ministry warned that there are already signs of overstocking and farmers should be aware of the risks and avoid possible losses.

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