April 18, 2022

China's first-quarter pork production 14% up year-on-year

China's National Bureau of Statistics data showed the country's first-quarter pork production was 14% higher compared to the year earlier at 15.61 million tonnes, Reuters reported.

This was the highest output for a quarter since the last quarter of 2018, as China has steadily increased its swine herd over the past year.

195.66 million swine were slaughtered in the country in the first three months of 2022, 14.1% higher compared to the same period in 2021.

China's swine herd dropped from 449.22 million head at the end of December 2021 to to 422.53 million head at the end of March 2022.

The country's pork production in 2021 was 52.96 million tonnes, below the 53.4 million tonnes produced in 2017. That was the year African swine fever spread throughout the China. 

Swine output has recovered faster than projected, and has weighed on prices as lockdowns imposed throughout the country has resulted in declining demand from restaurants.

Pork prices wholesale in the first week of April was CNY 18.21 (~US$2.86; CNY 1 = US$0.16) per kg, half the level of a year ago based on data provided by China's Ministry of Agriculture and Rural Affairs.

Almost all major hog producers in China expanded their first quarter sales despite mostly losing money since last summer, thanks to investments in breeding farms over the last two years.

Muyuan Foods Co Ltd, one of China's leading swine producers, reported 80% more output in the first quarter compared with a year ago or 13.8 million pigs.

-      Reuters