Economy

China puts on market pork reserves to ensure supplies

(Xinhua)
Updated: 2010-12-18 10:48

BEIJING - China has put on the market state pork reserves to stabilize prices and ensure adequate supplies during the upcoming New Year Festival, an unnamed official with the Ministry of Commerce said Friday.

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The government put on the market pork from 26 state reserves in 12 regions, including Beijing, Tianjin and Zhejiang, the official said.

The move is part of the government's effort to rein in fast rising of consumer prices.

China's consumer price index (CPI), a major gauge of inflation, rose to a 28-month high of 5.1 percent in November.

The average wholesale prices of fresh pork rose 0.75 percent from one year earlier during the first 11 months of 2010, according to data released by the ministry.

The official said the ministry would keep a close eye on the pork market, increase pork supplies while cooling rising prices.