September 18, 2023

Week-on-week drop for China's pork prices during September 4-8 period

China's pork prices logged a week-on-week decline during the week of September 4-8 due to the growth of supply, official data showed.

The average pork price of 16 Chinese provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs came in at ¥21.5 (US$2.95) per kilogramme, down 2.9% from the previous week. The figure also dropped by 30% from the same period last year, according to the ministry.

The ministry attributed the price reduction to the growth of supply, noting that large-scale farms accelerated the pace of slaughter during the period, while household producers were also active in pork sales.

The price decrease was also driven by the release of some low-priced frozen pork to the market, the ministry added.

- Xinhua