$852m plan to curb pork prices
25 June 2007
The People's Bank of China announced a US$852 million plan to curb increasing pork prices, state media reported. The funds will be allocated in an insurance scheme that insures female pigs against illness and natural disasters, with pig breeders getting an annual subsidy of US$6.55 for every female pig insured. The central government will also allocate US$61.6 million this year to relieve the impact of inflation on the poor and another US$36.7 million to subsidies for college students from poor families. To alleviate the fears of farmers of pigs contracting blue-ear disease, the central government will also provide US$37.4 million for a mass immunization program, which will be subsidized by local governments. The Ministry of Agriculture reported live pigs were 71% more expensive in April than in March, with pork prices 29.3% higher during the same period.