China is cutting transportation tariffs on pork to ease prices
The Chinese authorities are trying to avoid a spike in pork prices by giving up on taxes for trucks that transport pigs or pork meat around the country. With pork supplies declining fast in some regions, authorities have also planned to release reserves of frozen meat to cover the gap in the market.
“For vehicles that legally transport breeding pigs and frozen pork, tolls are exempted to further protect pork supply,” announced China’s ministry of transport at the beginning of the week, according to AgriCensus.
The so-called toll-free “green path” for authorized vehicles carrying pigs and pork came into effect over the weekend and will be valid until the end of June 2020. Despite the fact that China's pork imports have grown in the last couple of months, pork prices are hitting new records in this market. Last week, prices have jumped by almost 9% reaching the level of $4.82/kilo. A week before that, pork prices have been at $4.42/kilo.
China holds the world's largest pig herd but the ASF outbreaks have reduced the national pig inventory by 33% in almost a year and analysts are predicting a total decline of 50% by the end of the year.
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