China will provide more incentives to encourage pig breeding and stabilize pork supplies, but prices this year, after the outbreak of African swine fever, will rise by 70%, official media reported, citing the country's Ministry of Agriculture.
Xinhua News Agency, citing spokesperson for the Ministry of Agriculture and Rural Affairs, Guang Defu, reported that local authorities will encourage large counties as well as pig-producing regions.
According to the spokesman, the ministry will also provide pork producers with faster provision of soft loans and subsidies.
After the April reduction of 22.9%, in May the Chinese sow population fell by 23.9% compared with the previous year, and some analysts warn that production may eventually fall by as much as 35%. Pork imports grew by 63% to almost a three-year high.
Chinese Vice Premier Hu Chunhua said last month that pork plays an “indispensable role” in China’s economic and political stability, and called on local governments to take steps to stabilize production and prevent abnormal price fluctuations.
