June 15, 2023

Pork prices in China experience slight weekly decline, ministry data shows

Official data released by China's Ministry of Agriculture and Rural Affairs showed that pork prices in the countrt recorded a slight week-on-week decline from June 5 to June 9, China Daily reported.

The average price of pork during this period, as tracked by the ministry, stood at CNY 18.39 (~US$2.57; CNY 1 = US$0.14) per kg, representing a decrease of 0.5% compared to the previous week.

The data revealed that the price was 12.1% lower than the same period last year, with the decline narrowing by 0.1 percentage points compared to the previous week.

While there were no significant fluctuations in pork supply during this timeframe, the demand for pork remained stable. Overall, the ministry reports that pork prices showed a slight decrease on a weekly basis.

-      China Daily