Pork prices in China slumps for 14 consecutive weeks

The price of pork continues to fall for the 14th week in China, causing an overall loss of production, according to the statistics issued by National Development and Reform Commission last Friday (Apr 16).

According to the Ministry of Agriculture, in the first week of April, average hog price was RMB9.43 per kg, down 1.9% from the previous week and 11% from the same time last year.

"I have been raising pigs for nearly a decade. The current price is the lowest over the years," said Su Rui, a farmer of Hebei province who has more than 1,000 pigs. Most farmers are running at a loss. Some small farms will not be able to withstand the downturn, Su added.

The low pork price is a result of oversupply, according to Mei Keyi, official of Beijing Agriculture Bureau.