pork Photo:VCG

As of Monday, China's five major hog and pork enterprises all released their monthly reports for September, which showed a sharp increase in revenue for four major enterprises and soaring average prices across all five enterprises, Chinese media outlet thepaper.cn reported on Monday. 

The five enterprises are Zhengbang Group, Wens Foodstuff Group, Muyuan Foods Co, New Hope Group and Tech-Bank Food Co. 

Monthly reports revealed that the average sale price of pork among five enterprises all saw an over 80 percent of year-on-year increase, with Muyuan Foods recording the highest increase at 100.7 percent. 

Wens Groups stated in its report that the year-on-year rise of sale price was linked to changes in live hog market. 

Pork prices saw a continuous increase during the weeklong National Day holidays from October 1 to 7, with the national average price rising nearly two yuan ($0.28) per kilogram, driven by consumption enthusiasm and the reduced market supply.

Analysts suggested that the soaring pork price may slightly lift the national consumer price index (CPI).

High sale prices usually result in increased revenue. During the month of September, four enterprises saw year-on-year revenue growth except Zhengbang Group. Muyuan Foods recorded the largest year-on-year increase among its rivals of 180.2 percent, and New Hope Group saw its largest monthly growth coming in at 37.85 percent.

Zhengbang Group said the revenue plunge was due to company's capacity reduction and marketing adjustment. 

The National Development and Reform Commission (NDRC) announced Sunday the release of a fifth round of frozen pork to the market, in a bid to stable the surging prices. The NDRC released the fourth round of frozen pork during the National Day holidays. 

Global Times