November 28, 2011

China's pork price decreases 9.6%

The price of pork in China has softened since mid-September, posting an average decrease of 9.6% by November 24 from September 12, according to China's state-owned media agency, Xinhua.

Pork prices in four provinces, including Chongqing, Hubei, Shanxi and Hunan, have reduced more than 10% since September 12, down 16.7%, 13.4%, 12.9% and 12.8% respectively.

Current prices were less than RMB14 (US$2.20) per 500 gram in 13 provinces such as Shandong, Tianjin, Hebei, Hubei and Hunan.

Pork price decline is expected to help ease the inflation pressures in China.