BEIJING, Oct. 18 (Xinhua) -- The average price of
pork in Chinese shops has dropped 11 percent from its peak in August as the
government invests billions of yuan to support the pig breeding industry.
The retail price in 36 large and medium-sized cities fell to 12.41 yuan (1.7 U.S. dollars) per
500 grams on Thursday, from the peak level of 13.95 yuan on Aug. 9, according to
the National Development and Reform Commission (NDRC).
Pork prices almost doubled this year due to short
supply and mounting feedstuff costs, driving up the consumer price index to an
11-year-high of 6.5 percent in August.
The central and local governments will earmark a
total 14.6 billion yuan (1.9 billion U.S. dollars) this year to encourage
farmers to raise pigs and boost pork supplies, Deputy Finance Minister Zhang
Shaochun told a meeting in Wuhan, capital of central China's Hubei Province.
Zhang noted that 10.8 billion yuan, or 74 percent of
the funds, comes from the central government.
The funds will subsidize insurance and breeding
programs, immunization of animal diseases, including the highly pathogenic
blue-ear disease, construction of farms, and a living allowance for low-income
earners, he said.
