Beijing will first uncorn the pork reserve

Beijing authorities will first sell on the market a part of the reserves of frozen pork to satisfy the growing demand for meat and restrain the increase in prices. This is written by The Wall Street Journal with reference to the City Trade Committee.

It is expected that from May 5 to July 4, more than three thousand tons of pork will be realized. The meat will go on sale in a hundred Beijing supermarkets.

Over the past year, pork prices in China increased by about 50%, WSJ points out. Over a week from April 18 to April 24, the cost of a kilogram of pork increased to 26.24 yuan (about $ 4), while the prices of meat rise the sixth week in a row.

Due to the increase in pork prices (which accounts for about 3% of the grocery basket) in China accelerates inflation. In March, prices in the country amounted to 2.3%, and food inflation over the same month reached 7.6%, mainly due to expensive pork and vegetables.

The reserve of frozen pork was created in Beijing in 1992. Residents of China consume an average of about 34 kilograms of pork per capita per year.