The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
supplies@ (Adds detail on imports, quotes)
BEIJING, Aug 29 (Reuters) - China's commerce ministry said on Thursday it will seek to boost pork imports and also release frozen pork, beef and mutton from state reserves in "due course" to increase the supply of meat in the market.
The comments come as pork prices in the world's top consumer of the meat hit a record after an epidemic of African swine fever swept through the country's pig herd, killing millions.
The country's hog herd has shrunk by almost a third since a year ago, according to official data, and pork prices have soared since June.
Imports of the meat are already up 36% in the first seven months of this year, and analysts expect them to double from 2018 levels in 2020.
"We will...continue to encourage the expansion of pork imports," ministry spokesman Gao Feng told reporters at a regular briefing.
Beijing has agreed to start importing pork from Argentina this year, and is also expected to approve additional plants for export from Brazil and Britain.
Gao also said China will release meat from its reserves to stabilize supplies.
China often releases some of its meat from storage when prices are high, or during high demand periods such as the weeks ahead of the Lunar New Year holiday, the country's biggest festival.
It released 9,600 tonnes of reserve pork this January, according to state media reports. But while total volumes held by the country are not known, analysts say they are unlikely to be significant enough to have a real influence on market supplies.
"The government wants to support the market but this is more of a political gesture," said Pan Chenjun, senior analyst at Rabobank.
"They may call for other players to follow them," she added, referring to slaughterhouses or cold storage facilities with stocks of frozen pork.
Pork retail prices jumped 7.8% in the week to Aug. 14, hitting 32.4 yuan per kilogram, data from the Ministry of Agriculture and Rural Affairs showed, almost 50% higher than at the same time a year ago.
China's cabinet has called for measures to support a recovery in production. (Reporting by Stella Qiu and Dominique Patton; Editing by Tom Hogue, Rashmi Aich and Deepa Babington)