February 22, 2008

China expects drop in pork prices

Pork prices have increased due to the snowstorms and Spring Festival, but now prices are expected to fall back to its usual range.

Latest figures released by the National Bureau of Statistics revealed that pork prices have risen over 58 percent in January before peaking at RMB 22.75 (US$3.2) per kilogram on February 7, 2008.

Pork prices, however, has now fallen over 1 percent.

Number of slaughter pigs will be gradually increased over the next few months, according to data from the Ministry of Agriculture. The Ministry of Commerce said the price increase was temporary and is now steadily falling back.