Hong Kong (CNN Business) China will release 10,000 metric tons of pork from its central reserves this week in a bid to stabilize soaring pork prices and cope with a swine fever crisis that has wiped out roughly one third of its pigs.

The frozen pork will be auctioned online on Thursday afternoon, China Merchandise Reserve Management Center, a state-owned company that manages the reserves, said in a statement on Tuesday.

The pork is imported from the United States, the United Kingdom, Denmark, Germany, France and Chile. Major suppliers include American firms Smithfield, Clemens Food and Seaboard, as well as Denmark's Danish Crown.

The order to release the reserves came from several Chinese government bodies including the Ministry of Commerce and the Agricultural Development Bank of China, the reserve management center said.

Companies interested in the online auction need to sign up with the center in advance and be vetted by the Commerce Ministry before Thursday. Each bidder can only buy up to 300 tons.

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