China To Release Additional Pork From Reserves

Mainland authorities say they'll release pork from the country's central reserves this week to maintain price stability, with the cost of the meat skyrocketing in recent months.

The announcement on pork supplies follows the release of official figures earlier this month showing prices of the meat last month had risen 22.4 percent from August last year. That was up from 20.2 percent year-on-year growth in July.

The Xinhua news agency quoted officials as saying the price of pork rose 0.4 percent from August to July.

Prices of the meat in the world's top pork producer have surged in recent months, as a reduction in the breeding herd that began last year started to impact output.

The increases came as rises in overall food prices in the country narrowed slightly to 6.1 percent on year last month, from July's 6.3 percent gain.

The National Development and Reform Commission said it will closely watch market changes and further dip into pork reserves if needed.

It also told pig farmers to make proper arrangements and sell hogs at a normal pace.

In July, it warned against irrational behaviour such as blindly hogging supplies and reluctance to sell in the live pig market. (Additional reporting by Reuters)