The Ministry of Commerce will take measures to ensure the supply
of pork and edible oil, whose prices have risen over the past few
According to Wang Xinpei, a ministry spokesman, efforts will be
made to facilitate distribution of pork and edible oil. The
creation of an emergency supply network will be sped up and the
pork reserve system will be improved.
Illegal slaughtering of pigs and other violations of the law
such as the sale of pigs injected with water or pork from diseased
pigs will be cracked down upon to ensure the safety of the pork
supply, Wang said.
On Nov. 5, the pork price, although down 7.5 percent from the
record high in early August, was back up to 5.4 percent higher than
the level in early October.
The price hike was attributed to mounting demand and the growing
costs of pig raising and transport.
Meanwhile, the average retail price of peanut oil, soybean oil
and rapeseed oil went up 1.1 percent, 1.0 percent and 0.7 percent
respectively from early October.
These price rises were attributed to declines in the production
of oil-bearing crops both at home and abroad.
Major edible oil manufacturers and traders nationwide were urged
again on Tuesday by the central government to exercise
self-discipline and to be reasonable in price-setting in the wake
of rising market prices.
In a harshly-worded statement, the National Development and
Reform Commission (NDRC), the nation's top economic planning agency
which oversees price affairs and other economic and social matters,
said edible oil producers and traders would face punishment,
including fines of up to 300,000 yuan (US$40,000), and have their
business licenses revoked for any violation of pricing laws and
Major edible oil maker executives and guild leaders were
summoned to Beijing on Monday by the commission for a closed door
meeting where the government asked them to step up production to
rein in the soaring market prices.
(Xinhua News Agency November 9, 2007)