Pork products are seen at a Hema Fresh store in Chaoyang District, Beijing, April 26, 2022. (Photo: China News Service/Fu Tian)

China plans to release more centrally reserved frozen pork to the market, the fourth time this year, as the steep rise in pork prices lately has triggered a "Level-2 warning," according to a notice released by the National Development and Reform Commission (NDRC) on Tuesday.

During the past week from September 19 to 23, the average retail price of lean pork in 36 large- and medium-sized Chinese cities rose 30 percent year-on-year, which triggered the "Level-2 warning", said the NDRC, the country's top economic planner. 

The authorities will issue the second-level warning when the average retail price of lean pork in the 36 cities rises between 30 and 40 percent during a given week.

In addition to releasing the centrally-reserved pork, the NDRC also plans to guide provinces and regions to release locally reserved pork to the market.

Currently, the overall production capacity of hogs in China is reasonable and abundant, and number of breeding sows, newborn piglets and feeder pigs are all increasing. 

The price of hogs has been at a historically high level, but there is no basis for a sustained and substantial rise, the NDRC said. The department also suggested farmers make reasonable arrangements for hog production, and maintain a normal pace of breeding and production.

On Monday, the average price of pork in China's agricultural wholesale markets stood at 31.28 yuan ($4.36) per kilogram, up 0.6 percent from Friday, according to the Ministry of Agriculture and Rural Affairs.

The ministry held a meeting on Monday to arrange the work of ensuring a stable hog production during the fourth quarter. It noted that the current hog production and supply situation will keep improving, the number of breeding sows is at a normal level, and the number of hogs in stock has increased for five consecutive months.

On September 8, the NDRC released this year's first batch of centrally-reserved frozen pork in order to ensure supply and stable prices as the country's two major holidays - the Mid-Autumn Festival and the National Day Holidays - draw near.

Pork prices saw a rapid growth in July, as a previous price drop had impacted hog farmers' enthusiasm for breeding hog. Entering a price rise cycle, farmers have tended to hoard stock seeking to maximize profits. 

The NDRC said it will continue to release the centrally reserved frozen pork through working with relevant government departments to ensure stability of the consumer market.

Global Times