atans1

Grandpa Xi’s biggest headache

In China, Commodities on 17/10/2019 at 5:23 am

No it’s not the quai lan Hongkies. or Mad Dog Chee’s cousin Trump. He has a much bigger problem which means he can’t focus on HK or US China political and trade relations.

The price of pork, the most popular meat in China, jumped by 69.3% compared with September last year. The rapid rise in pork prices means that China’s consumer price index is up by 3% year on year in September, the largest increase since November 2013. The rise in pork prices contributes nearly half a percentage point to headline inflation.

The outbreak of African swine fever has cut China’s pig population by 39% and led to led to rationing and price controls in at least one Chinese city.

The govt has started releasing frozen pork from its reserves, starting with 10,000 tonnes. There are subsidies for new pig farms and plans to breed bigger pigs. (Btw, frozen pork is tenderer than chilled pork according to a S’pore study reported by our constructive, nation-building CNA)

Meanwhile, pork related stocks are cheong.

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