January 11, 2008

China envisions decline of pork prices by second half of 2008

Pork prices in China, predicted to stay high on the first half of 2008, will likely fall in the second half, assistant minister of commerce, Huang Hai said. 

The decrease of pork prices will result from the expected increase in domestic supply.

China's wholesale pork prices have hit a record of RMB21.80 (US$3.00) per kilogramme last week.

Huang said that amidst some 23,000 slaughterhouses ordered to close due to poor standards and unlicensed operations, the government will ensure that pork supply will be enough during the Spring Festival holidays in February.