The new benchmarks aim to improve pricing transparency, strengthen branding and help farmers track supply, demand and market trends in one of China’s biggest yak and Tibetan sheep regions.
Qinghai Province has published two livestock price benchmarks, the Xinhua • Qinghai Yak Price Index and the Xinhua • Qinghai Tibetan Sheep Price Index, as local authorities and state-linked information providers seek to improve price transparency and branding for the region’s animal husbandry sector. The indices were jointly released on June 23 by the Qinghai Provincial Department of Agriculture and Rural Affairs, Qinghai Branch of Xinhua News Agency and China Economic Information Service, or CEIS. Officials said the benchmarks are designed to track supply, demand and industry trends in real time, helping farmers adjust slaughter timing, stabilize market expectations and support digital transformation. Qinghai, described as the "world's capital of yaks" and the "hometown of Tibetan sheep in China," has about 34 percent of the world’s yak population and more than 40 percent of China’s Tibetan sheep stock. The index series includes sub-indices for live animals and carcasses, uses February 27, 2024 as its base period and 1,000 points as its base value, and indicated that by mid-June 2026 both closely linked markets had moved out of a trough and into a new upward trend. The release also highlighted pressure from imported frozen meat and weak consumer recognition of the value of green plateau food, factors officials said have hampered price transmission across the industrial chain and increased the need for stronger branding.