Country for PR: China
Contributor: Xinhua News Agency
Friday, January 12 2018 - 19:19
AsiaNet
Xinhua (Rongchang) Live Pig Price Index to Offer Value Reference for Industry Operation
BEIJING, China, Jan. 12, 2018 /Xinhua-AsiaNet/--

"Xinhua (Rongchang) Live Pig Price Index" compiled jointly by the China 
Economic Information Service (CEIS) of Xinhua News Agency and the People's 
Government of Rongchang District of Chongqing Municipality was unveiled in 
Beijing on December 27, 2017.

The price index is aimed at monitoring running status of the country's live pig 
market and offering the value reference for the industry operation, according 
to the attendees at the index release conference.

Su Huizhi, vice president of CEIS, Lu Yanchun, director of the Price Monitoring 
Center of the National Development and Reform Commission (NDRC), Wang Xiaobing, 
director of the Information Center of the Ministry of Agriculture (MOA), and 
Shi Youlong, chief livestock engineer of the National Animal Husbandry Station, 
attended and addressed the conference.

The launch of "Xinhua (Rongchang) Live Pig Price Index" is aimed at creating an 
open and transparent live pig price information system. Exploring the live pig 
price discovery mechanism and accurately and timely monitoring the running 
status and development trend in the live pig market are crucial to reduce 
irrational fluctuations of the live pig prices. The index can offer an 
authoritative and effective benchmark value for production and operation of the 
live pig industry, said Su.

The Chongqing (Rongchang) live pig transaction market is the only national 
livestock and poultry market licensed by MOA, with its transactions accounting 
for about 8 percent of the annual live pig circulations in the country, 
according to Li Zhongwu, governor of Rongchang District of Chongqing 
Municipality.

"Xinhua (Rongchang) Live Pig Price Index" will provide participants of the live 
pig industrial chain, including farmers and processing enterprises, with early 
warnings and production guidance, and offer a quantitative basis for 
decision-making of the competent authorities of the industry and relevant 
market entities, so as to promote the supply-side structural reform in the 
industry and furthest reduce impacts of "hog cycle", Li added.

Sample collection of the "Xinhua (Rongchang) Live Pig Price Index" covers 31 
provinces and municipalities in the country, with live pigs, piglets and boars 
as the main varieties for monitoring. The index is based upon a base of 100 on 
June 4, 2017 and will be released every Monday.

By December 17, 2017, the "Xinhua (Rongchang) Live Pig Price Index" had stood 
at 115.75, up 0.70 or 0.61 percent from the previous period and representing an 
increase of 15.75 percent from the base period.

Source: China Economic Information Service (CEIS)

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