China's pork price rises for 11th week

Pork prices in China, the world's biggest producer and consumer of the meat, rose for an 11th week as demand and higher livestock farming costs thwarted government efforts to boost supply and tame inflation. The wholesale price of pork, a staple in Chinese diets, gained 1.4% to 20.97 yuan ($2.86) a kilogram, up 53% in the past year, according to the Ministry of Commerce website.

The government, concerned about inflation and social stability, has tried to bring down pork prices by selling grain from reserves and subsidizing insurance against pig diseases. Food prices in the world's fastest-growing major economy rose 18.2% in November, spurring a jump to an 11-year high of 6.9% in the consumer price index.

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