September 14, 2011

Pork prices are expected to remain at high levels in the coming months despite a mild decline before the Mid-Autumn Festival, according to statistics of the Xinfadi market, Beijing's largest wholesale food market.

China's pork prices in the first 10 days of September averaged RMB23.80 (US$3.72)/kg, a 2.06% drop from the preceding 10 days.

But the figure represents a 52.56% surge from the RMB15.60 (US$2.44)/kg recorded in the same period of last year.

Pork prices are expected to continue to stay high over the following several months as the market will soon enter its traditional peak season for consumption.

Moreover, the swine fever that occurred earlier will also affect pork supply this year, which will be another major factor underpinning high prices.

The Mid-Autumn Festival falls on September 12 this year.