May 4, 2018
Pork prices in China falls to 4-year low
Pork prices in China, the world's biggest pork market, have fallen to a four-year low, according to a report by Xinhua.
A pig-farm manager, Wang Chang, said a 10-kilogramme pig that sold for 780 yuan (US$122.90) in 2016 now sells for just 300 yuan ($47.27).
A survey by the Chinese Ministry of Agriculture and Rural Affairs of 500 county-level farm produce markets showed that the average pork price in the third week of April amounted to 10.87 yuan ($1.71) per kg, down 1.3% from a week before, and 31.7% lower than in the same period last year.
As reported, Wang's company, the Jilin Hongzhui Pig Breeding Co. Ltd., has eight pig farms with a total output of 50,000 pigs in 2017. He told Xinhua that they reduced their breeding stock by 400 pigs in each farm this year, but that they still incurred losses amounting to 3 million yuan in the first quarter.
He said that in 2016, pork sales brought in 20 million yuan in profit, but last year profit shrank to 5 million yuan.
In Jilin province, a major pig breeding ground, farmer Wang Yaqin said he was confused about the price tumble. "Two years ago, I could earn 600 yuan from raising a pig, but now I would lose 300 yuan by raising one," she was quoted as saying.
Liang Qi, an agriculture product price expert, called for a nationwide big-data information service system for early warning of pork prices to help guide farmers in production.
Pork is China's staple meat and its price is subject to a boom-and-bust cycle depending on supply and demand, she said.