On August 10th, the Sino-Singapore Jingwei client terminal issued a notice on the 10th of China Storage Network. Huashang Reserve Commodity Management Center Co., Ltd. organized and implemented the central reserve frozen pork release work. It will put 10,000 tons in the warehouse on August 14.
Source: China Storage Network
Sino-Singapore Jingwei client combed and found that the central reserve frozen pork traded on August 14 will be the 28th time this year, and the cumulative amount will reach 500,000 tons.
Data released by the National Bureau of Statistics on the 10th showed that in July 2020, national consumer prices rose by 2.7% year-on-year. In food, the price of pork rose by 85.7%, an increase of 4.1 percentage points from the previous June. In this regard, Dong Lijuan, a senior statistician in the City Department of the National Bureau of Statistics, explained that in food, with the gradual recovery of catering services, the demand for pork consumption continues to increase, and floods in many places have a certain impact on the transportation of pigs, and the supply is still tight.
The chief economist and dean of the research institute of Yuekai Securities pointed out that there is limited room for pork prices to continue to rise. The year-on-year decline of live pigs for slaughter has narrowed, and the stock of pigs has increased month-on-month for three consecutive quarters. The supply of live pigs has improved. After two consecutive months of price increases in June and July, it is unlikely that pork prices will continue to rise sharply.
According to Xinhua News Agency, the relevant person in charge of the Ministry of Agriculture and Rural Affairs introduced that the current live pig production continues to recover, which provides strong support for increasing market supply in the later period. Pork supply will continue to improve in the second half of the year, and the possibility of further sharp increases in prices is unlikely. . (China-Singapore Jingwei APP)