October 3, 2020
Chicken prices in China down 25% as pork production continues rebound
Chicken prices in China have dropped 25% in the face of oversupply as the country's hog population continues to rebound and larger volumes of pork are being produced.
For one, prices of feather broilers, which account for more than 50% of the Chinese broiler market, have dropped 25% to RMB2.95 per jin, or RMB5.90 per kilogramme in the past month as demand decreased, especially since schools have closed for the summer, Gro Intelligence reported. The price is down 57% from a peak in October 2019, as per report.
Chicken became an alternative protein source after the outbreak of African swine fever in 2018 and pork production started to decline. Broiler chicken slaughter volume has increased 30% since 2018 and is expected to reach 16 billion head in 2020, the report said.
Last year, slaughtered chickens reached 9.3 billion head.
Meanwhile, China's pig herd grew for the first time in more than two years in July. In August it increased 31% year-on-year, according to the Ministry of Agriculture and Rural Affairs.