April 24, 2019

China expected to see record price for pork by winter



China could see pork prices reaching a new record by the next winter as the country continues to grapple with the implications of African swine fever (ASF) outbreak, Nikkei Asian Review reported.

In March, swine herds had dropped by 19% on the year, with the female population down 21%, the Chinese Ministry of Agriculture and Rural Affairs said.

So far, 1.02 million pigs have been slaughtered as a result of swine fever. In addition, all 31 of mainland China's provinces have confirmed a swine fever outbreak.

Due to the impact of ASF, prices for live hogs had rose to CNY15.1 (US$2.25) per kilogramme as of April 10 from CNY11.9 (US$1.77) in late February. However, the swift drop in the numbers of pig herds has yet to fully translate into higher costs for consumers, Nikkei Asian Review said.

Pig prices from October through December are expected to exceed the record of CNY21 (US$3.1) per kilogramme set in 2016, Wang Junxun, veterinary bureau deputy director at the Ministry of Agriculture and Rural Affairs, commented.

- Nikkei Asian Review