July 20, 2018

China pork prices on downward trend amid excess production
 

Pork prices in China are expected to fall overall this year amid high production rates across the country, according to an official from China's agricultural ministry.

"The country is expected to witness an excess production of pork for the year as a whole," Tang Ke, the head of market and economic information at the agricultural ministry, mentioned during a press conference.

"Prices for live pigs recovered in May due to diminishing stocks and strong demand from the market," Tang added.

The ministry estimates China's average pork wholesale price US$2.55 per kilogram in June, up 4.2% from the previous month but down 17% on an annual analysis.

As a key indicator of agricultural prices overall, pork prices can affect fluctuations in China's consumer price index.