September 23, 2013

China's August red meat prices up

During August, China's wholesale beef prices returned to their highest level on record, at RMB51.58 (US$8.40) per kilogramme, which was also registered in February 2013.

According to the Ministry of Agriculture of the People's Republic of China, sheep meat prices hit an all-time high, at RMB53.68 (US$8.77) per kilogramme (kg).

The continued rising red meat prices drove the average prices for beef and sheep meat during the first eight months of 2013, to RMB50.97/kg (US$8.33), up 36% on-year, and RMB52.72/kg (US$8.60), up 16%, respectively.

While chicken carcase prices during August were down slightly (1%) on the previous month, at RMB13.96/kg (US$2.28), pork prices were up 6%, to RMB21.58/kg (US$3.53).

However, pork prices still remained relatively steady, with the average prices during the first eight months of 2013 staying 3% lower than the corresponding period last year, at RMB20.69/kg (US$3.40).