China's release of 70,000 metric tons of national pork reserves in December 2020 brought the 2020 total to 670,000 metric tons. A total of 38 sales were held during 2020 as authorities sought to bring record-high prices under control. Reserve sales during 2019 totaled 170,000 metric tons during September and December--ahead of major holidays--as pork prices first began to soar. Releases were 20,000 metric tons in most weeks from December 2019 to September 2020 as pork prices remained stubbornly high.
|Sources: China commodity reserve management company announcements|
and China Ministry of Agriculture and Rural Affairs.
|Source: China customs statistics.|