In the News
Chinese government rations pork and sets maximum prices
12th November 2019
There's an ongoing problem in Chinese agriculture - African swine fever has decimated the country.
There are concerns that it could wipe out 20% of Chinese pigs. As a result, the price has risen to the extent that the government has intervened to establish maximum prices and ration pork purchases by consumers.
It's an example of government intervention on a massive scale, with the government also looking to supplement supply by releasing frozen pork from its pork reserves.
Pork shortfall caused by African swine fever is forcing China to scour the world for meat, boosting business for European and South American meatpackers. U.S. producers, however, have been hampered because of tariffs imposed by Beijing https://t.co/emVWIeDNXh pic.twitter.com/S2l2mmhEPw
— Reuters (@Reuters) November 8, 2019
China’s meat imports will hit record levels this year and next, as the nation copes with African swine fever https://t.co/dBOFfOoapN
— Bloomberg Asia (@BloombergAsia) November 7, 2019
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