The Ministry of Civil Affairs has recently decided to provide RMB9 billion Spring Festival subsidy to 74 million poor people in the nation before the Spring Festival. Similar subsidy provided by the local governments is estimated to be RMB3 billion. Calculating by consumers’ 40% of expense on livestock products during the Spring Festival, about RMB4.8 billion may be spent on livestock products. At a weighted livestock product price of RMB16/kg, the government’s subsidy may lead to 300,000 MT meat and egg consumption during the Spring Festival, equal to 5% of monthly supply at present. |
