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China’s Economic Planner Intends to Prevent a Pork Price Surge

  • The meat has climbed 28% at wholesale level since mid-March
  • Hoarding sentiment has been a key reason for the jump: NDRC
Customers purchase pork at a food market in Shanghai.

Customers purchase pork at a food market in Shanghai.

Photographer: Qilai Shen/Bloomberg

China’s top economic planner said it will take measures to prevent rapid pork-price increases when it deems appropriate, following steady gains the past three months for the key component of consumer inflation.

The National Development & Reform Commission will use tools such as adjusting reserves, it told representatives of pork and slaughter companies during a meeting, according to a statement released Monday. The NDRC also said it will work in coordination with other agencies to “severely punish illegal activities including fabrication and spread of information about rallying prices and price gouging.”