A woman buys pork at a supermarket in Nanchang, east China's Jiangxi Province, Dec. 22, 2019.(Photo: Xinhua)

China's top economic planner announced to launch a pork stockpile campaign in a bid to bolster declining national pork prices, the Chinese National Development and Reform Commission (NDRC) said via its official WeChat account on Tuesday. 

According to the monitor of NDRC, price ratio between pork and grain came in at 5.57:1 during the week starting January 24. The ratio had been in the range between 5:1 to 6:1 for three continuous weeks, which was the alert range marking the excessive decline of pork price level set by market regulators. 

NDRC plans to launch a stockpile campaign across the country and deploy related guidance to various local governments.

The price of pork in China saw a decline during the first three weeks in January as the Spring Festival arrived at the end of the month with the wholesale price of pork being at about 26.24 yuan ($4.14) per kilogram. 

Analysts suggested that in order to stabilize pork supplies and prices, authorities should strengthen pork reserves to regulate market supply and demand, as well as providing market information as references to market participants. 

Global Times