Friday, September 28, 2007

Pork Surge in China

China has begun to release pigs from its strategic pork reserve. CNN reports on the, um, spare ribs:
China has begun releasing pigs from its central reserves into the domestic market to counter surging pork prices that have helped lift inflation to 11-year highs, according to a media report.

Prices for pork, China's staple meat, have soared due to shortages blamed on a decline in pig rearing, rising feed costs and an outbreak of a pig disease that killed more than 70,000 animals and infected 280,000 this year.

Under a plan issued jointly by the Ministry of Finance and the Ministry of Commerce, China is releasing 30,000 tons of live pigs from its central reserves between September 10 and October 15, a person who saw the government notice told Dow Jones Newswires Friday.
Read it all, including more about the government's attempts to curb inflation.

Thanks to Freakonomics for the link.

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