Second Round of Pork Procurement Kicked Off

By CnAgri2013-05-16 10:51:54 Print In light of the pork market recession, the Ministry of Commerce kicked off reserved-oriented pork procurement on May 9 in order to stabilize hog production. The quantity of the procurement is 93,700 MT.
 
The procurement is usually carried out by bid-winning companies and they receive a modest subsidy from the government. New Hope Group, for instance, received RMB5.327 million subsidy in 2012 for pork reserve in Shenyang City, Liaoning.
 
The government’s pork procurement may help prop up pork price in the short run but is unable to make the nation’s hog industry to shake off losses.

From “China Livestock and Feed Market Weekly Report”