China to release reserves of commodities 'essential for livelihood'

[BEIJING] China said it would release reserves of commodities "essential for livelihood" in a timely and targeted manner, the state planner said on Friday after floods hit some regions and amid a resurgence of Covid-19 infections in the country.

The National Development and Reform Commission (NDRC) said it would strengthen control and prevention of African swine fever disease in its pig herds after the flooding and would ensure supplies of essential produce from the impact of the floods and Covid-19.

The NDRC said in a statement it would ensure prices do not rise sharply while assuring market supply of important livelihood commodities.

China would strengthen market supervision and severely crack down on fabricating and spreading price increase information, hoarding and collusion to drive up prices, it said.

Last month's flooding around China's central Henan province has swept away the crops and animals of some farmers while others are seeking donations of disinfectants to stop the spread of animal disease.

China has also seen a resurgence of coronavirus outbreaks recently with 124 new cases reported on Friday.

Yangzhou city in eastern Jiangsu province, one of the worst hit by Covid-19 outbreaks recently, saw prices of vegetables rise 50 per cent on July 27 with pork, seafood and eggs also seeing sharp increases, an official at the Yangzhou Municipal Development and Reform Commission said on Tuesday.

Supply of vegetables and other major agricultural products, and prices of important agricultural products would soon return to normal levels in Yangzhou, according to Jiang Kaisheng, deputy director at the Yangzhou Municipal Development and Reform Commission.

REUTERS