China's pig prices drop 7% as market stabilises

China's pig prices has plunged 7% in a year following rising supply and government efforts to stabilise the pork market.

Prices, prior to 2011, shot up 80%, prompting authorities to temper the increase, according to analyst Mintec. The problem had since been mitigated successfully as the Chinese government acquired enough pork to stabilise supplies and prices.

Lower-priced feed and corn also contributed to the stabilisation of the pork market. These helped reduce production costs and increase the number of pigs, said Mintec.

The analyst expects Chinese pork production to increase 2% more this year compared to 2014.