December 23, 2022

China pork prices decline week-on-week

Data from China's Ministry of Agriculture and Rural Affairs showed pork prices in the country continue to decline week-on-week from December 12 to 16, Xinhua News reported.

The ministry's tracked average pork price was at CNY 25.76 (~US$3.70; CNY 1 = US$0.14) per kg, 1.1% down week-on-week. 

According to the data, the price of pork per kg was 19.6% higher than it was a year earlier, but the increase was down by 7.5 percentage points from the previous week.

In recent months, Chinese authorities have been releasing pork from the nation's central reserves in an effort to stabilise prices, and swine production has continued to rise.

To encourage the long-term, healthy development of the swine market, China will keep a close eye on the dynamics of market supply, demand, and prices.

-      Xinhua News