NDRC announces bigger pork reserve sales ahead of holidays

The National Development and Reform Commission (NDRC) noted in a recent press conference that it was taking steps to release pork from reserves in order to ensure supply ahead of the upcoming holidays. 

The NDRC noted that releases from reserves would increase ahead of the New Year’s holiday and the Spring Festival public holiday which will be from January 21st through January 27th. 

Hog prices have already fallen substantially as hog breeders have also increased supply ahead of the holiday. National average hog prices have fallen 28.7% in the past three months. 

The NDRC also said it would guide local government to release some grain and oil reserves as well ahead of the holidays to ensure supplies and keep prices stable.