December 9, 2022

Pork prices in China drop again

Official data from China's Ministry of Agriculture and Rural Affairs showed pork prices have continued to decline, even though the country is pushing to boost supplies and stabilise prices of the meat, Xinhua News reported.

The average pork price between November 28 to December 2, 2022 was CNY 28.62 (~US$4.10; CNY 1 = US$0.14) per kg, 3.6% lower week-on-week.

This pork price was 22.5% higher than the same period last year, but the increase was narrowed by three percentage points compared to the previous week.

The National Development and Reform Commission said Chinese authorities have released seven batches of pork from central reserves into the market in order to maintain supply and price stability.

The average weekly pork price tracked by the government has been falling since late October this year, according to the data.

-      Xinhua News