December 4, 2008
Shanghai's meat prices climb 10 percent
Shanghai's meat prices have increased 10 percent for five consecutive days to RMB15.5 per kg from RMB14.81 per kg, said the Shanghai Agricultural Product Central Wholesale Market.
The increase was attributed to a meat price decline from September to October, and the cutbacks in swine breeding herds, said industry insiders, adding that the smaller herds led to less availability of slaughter pigs in the following days.
Food institutes and consumers have increased meat demand as the Chinese Spring Festival is approaching, and an oil price increase led to a growth in meat transport cost, both of which also helped to boost meat sales prices.
However, industry sources expect meat prices to decline continuously in 2009, as there are still a large number of pigs available for slaughter next year.