June 22, 2021
Chinese hog farmers urged not to panic over falling pork prices
Hog farmers in China should not panic over falling pork prices, the China Animal Agriculture Association said on June 21.
In a statement, the association told hog farmers to make arrangements according to actual conditions, improve hog reproductive efficiency and lift feed conversion rate in the face of a temporary hog oversupply in the market.
The average hog price has dropped more than 50% to approximately ¥44 (US$6.8) per kilogramme from the start of the year, the lowest since 2019 when prices began to elevate due to the outbreak of African swine fever (ASF), according to data from Ministry of Agriculture and Rural Affairs.
Falling pork prices are caused by a recovering hog production since the end of last year and a falling consumption due to seasonal demand, as well as changes in consumption habits, according to the association.
"It is hoped the hog farmers can play more attention to prompt market information issued by the government, don't panic over the temporary drop of prices, and continue to reduce their hog production and increase efficiency," the statement said.
- Global Times